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According to Redmond Pie, msft.guy, an iPhone hacker who fixed the blacksn0w unlock 3.1.3 05.11.07 baseband for the iPhone and who created the binary that unlocked the iPhone OS 4.0 Beta, is back with jailbreaking goodness.
Apple just dropped the Golden Master iOS candidate to the developer pool yesterday as part of the big WWDC release announcement, and by this morning msft.guy has apparently dropped PwnageTool bundles for it. And since this isn't an official iPhone Dev Team jailbreak, it comes with banners and flashing lights attached: for experts only. The newness of it all means very few tests have been done on it and you could likely brick your phone unless you know your hardware, software, firmware, and underwear inside and out.
Image Source: Redmond Pie
While we at Mac|Life don't condone jailbreaking (okay, maybe we do.) (word-to-the-wise disclaimer: it's against the law, according to Apple and the DMCA), we know that there are readers out there who like to live on the edge. If you just happen to be one of those, you know what to do.
Updated: Changed legal reference in third paragraph. Added link to jailbreaking how-to.