Jailbreak iOS 4.1 and 4.2 beta 1 (At Your Own Risk!) with Redsn0w 0.9.6. beta 1 on iPhone 3G and iPod touch 2G (MAC ONLY)

Today the iPhone Dev team released Redsn0w 0.9.6 beta 1 for the iphone 3g and the ipod touch 2g mc model and non mc model and it will jailbreak 4.1 and 4.2 beta 1 (USE AT YOUR OWN RISK). However on the mc model ipod touch it will be tethered which means each time you turn off your ipod you will have to re-jailbreak your ipod.
Step 1: Download iOS 4.1 for your version of iPhone 3G / iPod Touch 2G.
Step 2: Update to this latest firmware using the IPSW file you just downloaded via iTunes 10.
Step 3:  Launch Redsn0w 0.9.6b1 (download links at the end) and Browse for iOS 4.1 Firmware. 
Step 4: Select "Install Cydia" and click on Next

Step 5: Now make sure your device is both OFF and PLUGGED IN to the computer before you click “Next”.

Step 6: At this stage you will need to put your iPhone in DFU mode by holding “Power” button and then while holding the “Power” button, you will now have to hold “Home” button too. Now after few seconds release “Power” button but keep holding “Home” button until installation begins.

Step 7: You will Get a Jailbroken Device as soon as the process ends.
For more information go to http://blog.iphone-dev.org/ steps taken from spiritjb.org  check them out and to download redsn0w also go to http://blog.iphone-dev.org/