KaatjeNL has had success to jailbreak iPhone 3GS Old Bootrom on iOS 4.0.2 and is likely to release the PwnageTool Bundles shortly. According to her, she not only succeeded to jailbreak iOS 4.0.2 running but was also able to put ultrasn0w 1.0 to work to unlock iPhone 3GS. She posted a twitter update with couple of images of jailbroken iPhone 3GS:

“we haz success! 3GS old bootrom pwned with 4.0.2 and ultrasn0w is working”

Apple have fixed the userland exploit that enabled JailbreakMe to jailbreak iPhone 4 and 3GS. Redsn0w and PwnageTool, however use bootrom exploit that still works for iPhone 3G, old bootrom iPhone 3GS and iPod Touch 2G. Those with iPhone 4 and iPhone 3GS will lose their jailbreak once they update to iOS 4.0.2 as there is no known bootrom exploit in modern iDevices. Things are ideal for iPhone 3GS old bootrom users who can upgrade to iOS 4.0.2 and can still jailbreak.

KaatjNL’s exploit is not out yet but will make its way out once its clears the tests. Stay tuned.