As predicted, the iPhone 3GS is now jailbroken. George "Geohot" Hotz is the first to publish a full jailbreak for Apple’s new phone, only a few weeks after its release. Called Purplera1n, the jailbreak is only Windows for now but there will be a Mac version soon. The Dev team is also working on an update to their ultrasn0w tool that will unlock the SIM as well.
Update: Video posted a below.
We are one Windows machine away from testing this ourselves but look forward to the extra speed in the PSP emulation and Qik Video broadcasts.