George Hotz, renowned iPhone hacker has now released blackra1n RC2 which apparently will jailbreak fresh out the door iPhone 3GS’ loaded with iPhone OS 3.1.2 reports intomobile.

However, blackra1n RC2 will only jailbreak factory fresh iPhone handsets via a “tethered jailbreak.” Blackra1n RC2 fixes 3G issues, fixes Icy issues, is a tethered jailbreak for the iPhone 3GS and new out of the box 8GB iPod Touch, and works with both Mac and Windows.

However, if you have already jailbroken your iPhone using blackra1n RC1 there is no need to run blackra1n RC2. Furthermore, if you prefer to use the iPhone Dev Team PwnageTool you’ll be pleased to hear they are working on it.