PwnageTool 4.0.1 is now available to jailbreak iOS 4 (formerly known as iPhone OS 4.0), but as far as the latest iPhone is concerned, there’s still no known iPhone 4 jailbreak that can open it up to the world of Cydia. However, that doesn’t mean there won’t be one available soon.
As a matter of fact, this screencap of Cydia on the iPhone 4 is proof that there have been attempts, successful ones at that, to jailbreak Apple’s new mobile phone offering. Spirit was used as the basis for this iPhone 4 jailbreak.
It not yet ready for public use though word is they’ll be unleashing this Spirit iPhone 4 jailbreak once Apple rolls out the iOS 4.01 update today which is expected to fix the iPhone 4 reception issue plaguing their new cash cow.