Besides their recent iPhone 1.2.0 hack, the iPhone Dev Team will soon be releasing their PWNED, another breakthrough in iPhone hacking. PWNED patches bootloader and lets user load any firmware image, even those that aren’t signed by Apple. Jailbreak has never been easier. Patches can now be downloaded via iTunes. This new development is almost surely a precursor to the actual 2.0 patch. For more information about the theiphoneproject, click the link below. Excerpt:

Full independence from Apple’s vision on what the iPhone (and iPod Touch) can and cannot do. Currently it will allow you to restore to a jailbroken and unlocked state, and if you can figure it out - some extra cool stuff like Installer, Cydia, and other applications. You will eventually be able to backup your entire phone and restore to a state exactly the way you like it, restore straight to jailbroken state with installer, or even potentially install other OSes like linux (see iphonelinux.org) to your phone.

[theiphoneproject via engadget]