Right on time, if not earlier in fact. GeoHot has released Blacksn0w, unlocking tool for the iPhone 3G and 3GS running the newest iPhone OS 3.1.2 and baseband 05.11.07. By unlocking using this tool, your iPhone will be enabled for use on any network / carrier you prefer. Additionally, the new blacksn0w unlocking tool is, according to Hotz, faster by at least 15 seconds.

So how do you use it? There are three options, both are very simple, see which one applies to you…
For users who have used GeoHot’s previous products such as blackra1n before:

If you are a loyal blackra1n user who kept the blackra1n.app on your iPhone, run it. You will see Icy replaced by an option “ra1n”. Install this to upgrade your app. After upgrading, run blackra1n.app again. You will see “sn0w”. Install this, and enjoy your unlocked iPhone.

For users who have never used GeoHot’s tools or never unlocked your iPhone before (for example, if you have a brand new iPhone 3GS):

If you are new to the scene, just looking for an unlock, finally ready to upgrade to 3.1.2 and the accompanying baseband, willing to restore for the latest and greatest, or stuck on the “Connect to iTunes” screen, you are in luck. Jailbreaking and unlocking have never been easier. Go to blackra1n.com, click on the logo corresponding to your operating system, run the app, and click “make it ra1n”. When your phone reboots, you’ll see blackra1n.app. Run this, install blacksn0w, and enjoy your unlocked iPhone.

For users who have already jailbroken their iPhone using the iPhone Dev Team’s PwnageTool:

All you need to do is go into Cydia as GeoHot has also uploaded blacksn0w there. Just search for it there, to install it onto your iPhone, add blackra1n.com as repository.

Hope this helps, any questions just pop us a comment below!