Niacin from #iTouch in irc.osx86.hu claims to have code execution for iPod touch.
http://www.toc2rta.com/?q=node/18
http://www.toc2rta.com/?q=node/18
Also i believe apple may care a little less about cracking on the touch as it isn't a revenue stream for them (even though the software updates are probably the same for both iPhone + Touch)
I have heard that there is a different jailbreak on iPhone than the iPod Touch. I wonder why Apple made that so?
I wish we had an iPod Touch Dev Team!
It feels like everyone is working on the iPhone Firmware 1.1.1! Do they not realize the touch will have a much bigger user base cause not everyone wants to be tied to a carrier or the iPhone will not be avalible in there area for a while.