Apple has released a minor update, iPhone 3.1.3 for all iPhone users. iPhone dev team has also suggested that users should not update their iPhones to 3.1.3 firmware.
iPhone 3.1.3 firmware updates the baseband to 05.12.01. If you update your iPhone to new firmware, it will lock your phone permanently and it will become a useless phone. iPhone dev team has released redsn0w 0.9.4 for iPhone 2G and iPhone 3G users to jailbreak the iPhone 3.1.3 firmware.
iPhone 2G users can jailbreak as well as unlock the phone with redsn0w 0.9.4, but iPhone 3G users can’t unlock it with this jailbreaking tool. So, iPhone 3G unlockers should stay away from iPhone 3.1.3 update and they should not use redsn0w 0.9.4.
The redsn0w 0.9.4 tool doesn’t work with iPhone 3GS, newer versions of iPod Touch 2G and 3G. I would recommend you to wait for an announcement from iPhone dev team.
Download Redsn0w 0.9.4 to Jailbreak iPhone 3.1.3
[We've removed the downloadable links from our site due to policy violation issues. Sorry for the inconvenience.]
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Update: Jailbreak for iPhone OS 4 Beta is now available. You can check the guide here.