The iPhone Dev Team has just released "PwnageTool" to the public today. This allows iPhone users full access to their iPhone and do cool stuff other than what Apple will provide to the users. I personally don't have an iPhone so I haven't tried this yet, but the process to hack the iPhone seems to be fairly easy and do able even for people who aren't high tech. I'm pretty sure Apple will do something about this on the next update, but how long will that take to be hacked?
More info on HOW TO from links below.
main - iPhone Dev Team site
Blog - iPhone Project
Community site - mod my ifone
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