As an update, I tried all the suggestions and was not successful 
I went to the Apple shop over the weekend with my Macbook and my iPhone.
One of the staff members connected the new iPhone 4 and the macbook was able to recognize it, therefore the macbook is ok.
He said the macbook won't recognize my iPhone because it is jail broken. He said it will work if I lock my phone, but in my case, as I purchased my phone from the US, it will lock to a US network and not to a Canadian Network.
On a side note, I was able to connect my iPhone to my friends windows laptop and he has iTunes 10.0 installed.
Thanks to all that provided me with suggestions.
I went to the Apple shop over the weekend with my Macbook and my iPhone.
One of the staff members connected the new iPhone 4 and the macbook was able to recognize it, therefore the macbook is ok.
He said the macbook won't recognize my iPhone because it is jail broken. He said it will work if I lock my phone, but in my case, as I purchased my phone from the US, it will lock to a US network and not to a Canadian Network.
On a side note, I was able to connect my iPhone to my friends windows laptop and he has iTunes 10.0 installed.
Thanks to all that provided me with suggestions.