This by itself won't allow piracy. Since it was ruled legal in the US (I don't know about the UK, sorry) a new site has popped up that will allow you to easily jailbreak your iPhone/iPod Touch from within its browser. Point it at jailbreakme.com & follow the simple instruction. There are some nice little programs & emulators available in Cydia.

I just thought some people might be interested in this. You do it at your own risk & it will apparently void your warranty. Restoring or updating your firmware in iTunes will lose the jailbreaking functionality.

What exactly does jailbreaking do?
Does it allow flash files to be played and things like that or is it purely just to pirate apps and things?

It allows unofficial apps to be installed. You end up with what is essentially another app store on your phone where you can get free & paid for apps that Apple won't allow on iTunes. There is a flash player which I've not had time to look at. If you're an iPhone user there's a handy app there that will turn your phone into a wifi hotspot allowing you to give internet access to an iPad or netbook. There is plenty of other stuff there too, I'm running quite a nice theme & have tried NES, megadrive & MAME emulators. There's a Twitter app that can multitask, even on my 2g iPod Touch.

I jailbroken and it's the best thing I have done. Really opens the phone up!

Guys, Iwould steer clear of this way to jailbrake, its being said its not to clever,and is being investigated further, and there are other safer options.

Go to macrumours.com, big peice about this way, also yes its been ruled legal by the USA courts, but of course Apple in there wisdon are still saying this will void warrentys.

All Iwould say to people, do your research, and of course at your own risk.

Im not fussed about jailbreaking my iphone, it does everything i need already and apple keep updating the software anyway

I done my 2nd gen iPod Touch & an iPhone 3G & iPhone 4.0 at work this week without any problems. I don't see how Apple will be able to tell? If you want to remove it you just restore or update it through iTunes if there's a new official firmware out.

i did my touch, was definatley worth it