George Francis Hotz aka GeoHot a 20 years old boy who first hack the iphone once again uploaded a 68seconds video on his website and showed us his l33t hax0r skills.

According to him

The jailbreak is all software based, and is as simple to use as blackra1n. It is completely untethered, works on all current tethered models(ipt2, 3gs, ipt3), and will probably work on iPad too.

Don't ask about a release date. You won't make it happen any sooner