Geohot has updated his blog and per his blog we can soon expect a untethered jailbreak for iPhone 3GS, iPod Touch and would you believe he said that it will probably jailbreak iPad too. Anyways that is very good news for all the 3GS users especially..
Here is what Geohot said:
The jailbreak is all software based, and is as simple to use as blackra1n. It is completely untethered, works on all current tethered models(ipt2, 3gs, ipt3), and will probably work on iPad too.