The infamous iPhone hacker named George Hotz (aka geohot) is back big-time! In a new blog post today, he has announced that he has a working solution to jailbreak & unlock Phone 3GS, 3G, iPod touch 2G, 3G (new bootrom), and most probably the iPad as well. This is what he said about the untethered jailbreak on his blog.

Quote Originally Posted by George Hotz
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.
While he hasnít given any specific release date, we can assume that it will only happen once the iPad, and the new firmware such as iPhone 3.2 or iPhone 4.0 is released.
He's even uploaded a video as proof:

Source: RedMondPie
Source: Geohot's iPhone blog