The iPhone Dev Team yesterday announced the release of their PwnageTool 2.0.1, allowing any iPhone to be “jailbroken” in order to run unsanctioned third-party applications.

Seems there are a huge number of people who want to hack into their iPhone, as demand took down their servers for a period of time.

The software will jailbreak and unlock any first generation iPhone or iPod Touch running either version 1 or version 2.0 firmware, and will jailbreak the iPhone 3G. They’re still working on a way to unlock the newest iPhone so that it can be used on any other network…