The userland jailbreak for iPhone 4, iPhone 3GS, 3G on iOS 4 / 4.0.1, iPod touch on iOS 4, and iPad on iOS 3.2.1 is out !!. This being a browser based jailbreak, all you have to do is to browse to http://jailbreakme.com from your iOS device to jailbreak it. Servers are probably thrashed right now. Keep trying until you successfully load the page.

JailbreakMe

We will be back with quick how-to guides soon. Stay tuned for that !!    [Via Redmond Pie]