Alright, so @geohot just released his ‘blacksn0w’ unlock for the iPhone 3G and iPhone 3GS running 3.1.2 with the latest baseband (05.11.07). Before, only 04.26.08 was unlockable. George has figured out a way to unlock 05.11.07 running on the latest firmware. Below is  a guide on how to unlock your device. Make sure you’re already on 3.1.2.

The updated version of blackra1n (RC3) also has a couple of fixes. If you’re already jailbroken, don’t worry about it. If you aren’t, get to it!

If you aren’t jailbroken…

1. Download blackra1n RC3. WINDOWS |   MAC OS X
2. Use this tool to jailbreak your device.
3. Once completed, open the ‘blackra1n’ app on your iPhone’s homescreen.
4. Install ’sn0w’.

Congrats! You should now be unlocked.

If you are jailbroken, but don’t have blackra1n on your iPhone…

1. Open Cydia.
2. Go to Manage>Sources>Edit>Add.
3. Enter the following address into the box: blackra1n.com
4. Let Cydia refresh the sources.
5. Go into the blackra1n repo and install blacksn0w.
6. Once completed, open the ‘blackra1n’ app on your iPhone’s homescreen.
7. Install ’sn0w’.

Congrats! You should now be unlocked.

If you are jailbroken, and already have the blackra1n app on your iPhone…

1. Open the ‘blackra1n’ app on your iPhone’s homescreen.
2. Install ‘ra1n’.
3. Once completed, open the ‘blackra1n’ app on your iPhone’s homescreen.
4. Install ’sn0w’.

Congrats! You should now be unlocked.

Any questions or comments should be posted in the comments area below.