Here’s the video of JailBreakMe on an iPhone 3G:

Here’s the video of JailBreakMe on an iPhone 4 (faster!)

Feel free to ask some questions in the comments. And yes, FaceTime still works. 

Update: We’ve been told by Chronic Dev-Team that FaceTime and MMS may not work properly on some devices. To fix, do a fresh restore and re-jailbreak — that may do the trick. Let us know. 

Update 2x: We’ve installed the jailbreak on 4 iPhone 4s and both FaceTime and MMS still work flawlessly on all devices. 

Update 3x: One of our devices lost FaceTime and MMS after restarting. 

Update 4x: An official fix for the FaceTime and MMS issues is now available, and a compatible carrier unlock will reportedly become available in 48 hours.