REMEMBER DO NOT UPDATE IF YOU WANT TO KEEP YOUR JAILBREAK AND UNLOCK!

Update 1: We have confirmed that 3.0.1 breaks the current jailbreaks . . . well at least the 3GS.
Update 2: Looks like using a 3.0 firmware .ipsw with redsn0w to jailbreak 3.0.1 works. Purplera1n failed. This might be unlockable with ultrasn0w as well (we don't know if the baseband has been updated yet, all testing has been done on 2xiPhone 3GS with the 3.1 baseband).
Update 3: As far as we can tell all the jailbreak stuff is working fine (including winterboard) still don't know if the baseband was updated or not though thx jomasta
Update 4: I was just told that the baseband is the same meaning ultrasn0w should* work (iPhone 3G and 3GS). Can't confirm so try at your own risk. Anyone feeling like testing? edit: confirmed working.
Update 5: To clear up any confusion. iPhone 2G users should* be safe to upgrade and then jailbreak/unlock via redsn0w vusing a 3.0 frimware file. We just haven't confirmed unlocking for the iPhone 3G and 3GS yet.
Update 6: MMi user paige lets us know you can easily jailbreak 3.0.1 right now while waiting for an official tool - just restore the 3.0.1 firmware, and then using redsn0w 0.8, select the 3.0 IPSW, not the 3.0.1! After this, redsn0w will do it's magic and you'll be jailbroken on 3.0.1. edit: BTW this method has now been dev team approved.




Download links for 3.0.1:
iPhone 3GS
iPhone 3G
iPhone 2G

Download links for 3.0 (needed to jailbreak 3.0.1 via redsn0w):
iPhone 3GS
iPhone 3G
iPhone 2G

All that this update appears to do is fix the SMS vulnerability that we reported on a couple of days ago. The release notes are very very vague so we can't really provide more information until we install it ourselves and poke around, which we will do asap and either update this post or make a new one edit: updates above

Release notes:
btw. mad props to MMi member LatinKreationz for being super fast on the uptake posting about the update only 2 short minutes after it was released. It let us get a post on the homepage super quick (which I have now stolen and edited )