http://www.modmyiphone.com/forums/showthread.php?t=9341
The Dev Team has now announced a 1.1.1 jailbreak method which allows for:
* Downgrading to 1.0.2 (if necessary)
* Preparing the iPhone for a jailbroken update
* Performing a software update, leaving you with a jailbroken v1.1.1
* Forcing v1.1.1 to mount read-write so you can access it
* Installing SSH and BSD world
* Activating with a Non-ATT SIM
* Patching SpringBoard to allow third-party applications
* Clean-up
This does NOT allow you to unlock a 1.1.1 iPhone, and WILL NOT WORK ON AN UNLOCKED IPHONE. Again, if you have unlocked your iPhone, DO NOT DO THIS.
The Dev Team has now announced a 1.1.1 jailbreak method which allows for:
* Downgrading to 1.0.2 (if necessary)
* Preparing the iPhone for a jailbroken update
* Performing a software update, leaving you with a jailbroken v1.1.1
* Forcing v1.1.1 to mount read-write so you can access it
* Installing SSH and BSD world
* Activating with a Non-ATT SIM
* Patching SpringBoard to allow third-party applications
* Clean-up
This does NOT allow you to unlock a 1.1.1 iPhone, and WILL NOT WORK ON AN UNLOCKED IPHONE. Again, if you have unlocked your iPhone, DO NOT DO THIS.