Here it is folks, the TIFF image we tested that exploits firmware v1.1.1, giving you full root level file access to your iPhone (without upgrading from v1.0.2) and iPod touch. Before you visit the link, note the caveats:

• This may open up file system access, but it’s not a primetime hack, meaning it’s not so graceful as to simplify the installation of AppTapp or anything. Once you get file system access you’re kind of on your own to get apps working.
• Don’t hold us responsible whether it damages or bricks your device.
• You might be able use that on an unactivated v1.1.1 iPhone from Safari, but it’s a hella tricky technique. Good luck with that one! [Via TUAW,
  thanks Camron!]
• Please don’t hold us responsible whether it damages or bricks your device.
• Apple will increasingly than likely fix that vulnerability with v1.1.2, or whatever its next firmware version will be. When that happens we’ll all be back to the same spot we were the day v1.1.1 was released. So know that is a temporary technique, unless you’re committed to using v1.1.1 from here on out.
• We are so not responsible whether it damages or bricks your device.
• None of that will help the sad reality that iUnlock and anySIM still disable the cell radio in v1.1.1, so use those apps at your own risk once you break on through to the other side.

Good luck!

Original post by Ryan Block