The latest tool from the iPhone Dev Team, the iPhone PWNED tool will take iPhone hacking to the next level.
This new tool patches the iPhone bootloader and will let you load any version of the firmware you want, including custom firmware, the new tool allows custom firmware to be loaded directly from iTunes which simplifies the unlocking process, check out this video if it in action.
The new tool will be sometime today from the iPhone Dev Team.
Update 13th October 2009
The iPhone Dev Team have released PwnageTool 3.1.4 for Mac OS X