iH8sn0w released a new video where he demos the jailbreak of iOS 4.0 running on a iPhone 3Gs with the new bootrom. Unfortunately this is a tethered jailbreak and the only way to jailbreak is to go back on 3.1.2 , so you need to have your ECID saved.
There’s no ETA for the new update, but we will keep you updated. Stay tuned…