So Apple on Friday released an update to the iPhone OS (3.0.1) that takes care of an SMS vulnerability. It's a fairly important patch, and usually when Apple updates the iPhone OS, jailbreakers have to wait until the Dev Team comes out with a new version of jailbreaking software before they can update.
But according to the iPhone Dev Team's Twitter, this is not the case with the 3.0.1 firmware. In fact, the current versions of redsn0w and ultrasn0w work the same with the 3.0.1 firmware as they do with the 3.0 firmware that came out a few weeks ago. In short, the jailbreaking software already works. I checked with the Dev Team community and had this confirmed. "Restore to 3.0.1, run redsn0w, select the 3.0 file... Bang zoom."
So go ahead, iPhone hackers, and secure your devices soon. You don't have to worry about losing Cydia and other rogue apps.