The day has finally come everyone, Apple has just released iPhone OS 3.0 (also iPod Touch 3.0). The biggest problem a number of you who have jailbroken or unlocked iPhones will soon be pondering about will be whether or not to click that update button. If that’s you, so far, we do not recommend you do that. However, having said that, first generation iPhone users are relatively safe given that you don’t mind having a locked iPhone for just a few days. For iPhone 3G users, from what we’ve read so far we would recommend you hold on abit.

The reason for the above is because the iPhone Dev Team has updated and said that their tools for jailbreaking (such as Pwnage Tool and QuickPwn) and unlocking will be out by the end of this week at the latest. The best news is that yellowsn0w which is the Dev Team’s ultimate tool for unlocking the iPhone 3G (and 3G S to come) for use on other carrier networks has been updated and now called, ultrasn0w.

In the video below, you’ll see how the new and improved ultrasn0w will work, its as simple and just as quick as the old yellowsn0w. Ultrasn0w will be the iPhone OS 3.0’s first unlock tool and will work with any bootloader version! We have heard many of you tell us about your bootloader problems, since newer bootloader versions prevent downgrade of the iPhone’s baseband which is required in order to use the previous yellowsn0w. This is absolutely brilliant news, check out the video below, skip directly to 2:00 for the action.

More news on the release of ultrasn0w Friday!