The Jailbreak Team reached a milestone with JailbreakMe. JailbreakMe allows iPhone and iPad users to jailbreak their devices without any complications. The jailbreak was based on a PDF exploit and users found it really easy to jailbreak.
Apple couldn’t digest this and released firmware version 4.0.2 for iPhone/iPod touch and 3.2.2 for iPad that fixed the exploit on which the jailbreak was based. Apple now ships devices with these latest firmwares that make it hard for JailbreakMe to operate.
In a recent post, the iPhoneDev Team announced that there will be no jailbreak available for devices shipped with 4.0.2, out of the box. FW 4.1 is still in its beta stages and thus there won’t be a 4.0.2 jailbreak until 4.0.2 is the latest public release. You could still use RedSn0w to jailbreak your 4.x device, but easier tools like JailbreakMe won’t be available.
So, if you haven’t updated your iPhone, iPod touch or iPad to the latest firmware, you might want to consider waiting.