Update: New jailbreak/unlock 1.1.2 info here.
Offtopic: Reading all the info about the current developments of the jailbreak and unlocking in one go is quite a challenge. In fact, my head is quite ready to explode, if anything new comes in. :D
Current 1.1.2 jailbreak statusYesterday, we heard that the iHacking community scored another one against Apple by jailbreaking a 1.1.2 iPod Touch. Since the iPod Touch and the iPhone are very similar, we didn't need to wait long before an iPhone runs away from prison.
iPhone: Testing the 1.1.2 Jailbreak @ TUAW is just what everyone (except maybe Apple) were hoping to read about. It's a rather lengthy post, but everything can be summarized into a few words - 1.1.2 iPod Touch and iPhone jailbreak succeeded. Currently the process is very ugly and requires downgrading and commands but it'll be refined and undergo noobification before release to the general public.
1.1.2 Unlock StatusThe iPhone elite team made several changes to AnySIM and released AnySIM 1.2 into the world. Currently it covers only a very specific test case so be very sure to read everything carefully.
1. This version works only with 4.02.13_G baseband version and can be run on 1.0.2, 1.1.1 or 1.1.2 jailbroken systems
2. If your iPhone came with 4.02.13_G (aka 1.1.2) OUT OF THE BOX then do NOT use this unlock yet.
* It hasn't been tested with bootloaders other than BOOT03.09_M3S2
* Some very new U.K. iPhones come out of the box with BOOT04.06_M3S2.
* If you're in doubt, check the output of bbupdater -v or go into minicom and issue at+xgendata
Just so you know, this isn't made by the iPhone Dev Team and won't work with UK or German iPhones.