Some Hours ago I only wrote that we’ll soon see GeoHot coming out with Blacksn0w to unlock iPhone 3.1.2 Baseband 05.11.07 and he has finally done it today! He had been working for a while to find an exploit to come up with Blacksn0w to unlock iPhone 3.1.2 and looks like he has finally found it. Blacksn0w will be released along blackra1n on November 4 which will work on both the iPhone 3G and iPhone 3GS with 05.11.07 baseband.
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The video below clearly shows GeoHot running an unsupported carrier SIM on the iPhone which is on 05.11.07 baseband.