Geohot had released Limera1n yesterday that can jailbreak iPhone 3GS, iPhone 4, iPad, iPod Touch 3G and the new iPod Touch 4G.
The purpose of this guide is to provide you step by step instructions to jailbreak iPod Touch 3G and iPod Touch 4G using limera1n.
iPhone 4 and iPhone 3GS users can checkout this step-by-step guide to jailbreak their iDevice.
Here are some important points to note before you proceed.
This guide is only for iPod Touch 3G and iPod Touch 4G users. iPhone 4 and iPhone 3GS users can use this step by step guide to jailbreak their iPhone using limera1n. iPhone 3G and iPod Touch 2G users can use Redsn0w to jailbreak their iPod Touch.
Please note that jailbreaking your iPod Touch may void its warranty and hence proceed with caution.
Do not forget to backup your iPod Touch before you proceed. You can refer to this post for instructions on how to backup your iPod Touch.