The Pwnage Tool 2.0 announed for the iPhone 3G is still not fully ready. The iPhone Dev Team say it only activates and jailbreaks the device, but doesn't unlock it to work on all carriers.
It's ok to wait, as long as we know we'll get a 100% working version instead of some half-baked one. Anyway, the existing build is still able to unlock the first-generation iPhones with firmware version 2.0, and also to jailbreak applications to co-exist with the App Store.
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