This weekend I finally manage to jailbreak my iphone. The process is pretty painless, and is well documented on various sites; here, and here, for example.
The best part of doing this is that I can now unlock features of the iphone that would normally be closed to me. I can now record video with the phone, tether the phone to a laptop, and most importantly and ridiculously I can use the native terminal on the system. And a very cool side-effect is that I can now ssh to a remote host from my cell phone!