After BlackRa1n jailbreak for OS 3.1.2, Dev-Team has released their updated version of PwnageTool to jailbreak iPhone OS 3.1.2. Unlike BlackRa1n, PwnageTool preserves your Baseband to let you unlock your iPhone if you want to.

PwnageTool 3.1.4 now supports the iPhone 3GS OTB, iPhone 3G, iPhone 2G, iPod Touch (1st Gen and 2nd Gen). Sorry, no support for iPod Touch 3G for now.

PwnageTool is for Mac OS X only.

Details:

• PwnageTool supports the iPhone 3GS OTB. If you bought a new iPhone with 3.1.2 or updated your iPhone via iTunes, you will now be able to jailbreak your iPhone. But no Unlock, atleast for now.
• Unlike BlackRa1n, PwnageTool does not update your Baseband which then let you unlock your iPhone using UltraSn0w. BlackRa1n jailbreaks your iPhone but also updates its Baseband so won’t be able to unlock it.
• BlackRa1n brought a lot of bugs with it. If you have used BlackRa1n on your iPhone, still you can use custom firmware made with PwnageTool to get rid of all bugs.
• If you’re using Tethering hack on your iPhone, you better stay away from updating because it will kill the tethering hack.
• You can jailbreak iPod Touch 2G only if it was jailbroken before. No support for iPod Touch 3G jailbreak.
• You can use PwnageTool made Custom firmwares in Windows environment but not the PwnageTool because it’s for MAC only.
• There’s no info available on when will the Windows version of PwnageTool and Unlock for latest Baseband be available.