Sort of. Pwnage Tool 2.0 can't handle 3G iPhone SIM unlocks just yet, though jailbreaking should work just fine, and we're also faced with the teensy little problem of the Dev Team's server being totally destroyed by downloads already -- mirror please? -- but the friendly little jailbreak app has finally been unleashed upon the earth. We'd never suggest trying out software like this right out of the gate, but, um, let us know how it goes, yeah?
[Thanks to everyone who sent this in]
Update: We're seeing mixed results so far in the comments, but no bricked phones to speak of. Always a good thing. Oh, and plenty of mirrors to be found in the comments, thanks guys!