MuscleNerd tweeted about the release of the long-awaited RedSn0w jailbreak for iPhone 3.1.2. This version of RedSn0w is actually a beta version (redsn0w 0.9beta3) but it seems very stable from what I hear.

RedSn0w is a safer alternative to BlackRa1n to jailbreak and unlock your iPhone running OS 3.1.2.

Since it’s still a beta version, it hasn’t been posted on the Dev Team blog yet but more info about RedSn0w 0.9 beta 3 can be found here. If you’re too lazy to read the full article, here is a rundown of the most important points:

* RedSn0w 0.9 will jailbreak all iPhones and iPod Touch (except iPod Touch 3G)
* It will jailbreak iPhone OS 3.1.2
* It will only unlock the iPhone 2G (install UltraSn0w from Cydia for iPhone 3G and 3GS)
* RedSn0w will modify your current filesystem, so your existing baseband, data and applications should remain intact
* If you have a late-model iPhone 3GS or an iPod touch 2G whose serial number begins with “MC”, you can use redsn0w to jailbreak but you are currently restricted to “tethered” rebooting

For full details about RedSn0w 0.9 beta 3, please read the Dev Team’s article about it.