iPhone Dev Team has released their latest PwnageTool update, now supporting the iPhone 2.0.1 OS and including Installer 4 beta.

Apple’s latest iPhone 2.0.1 OS was said to have a new basaband firmware that prevents sim unlock, making the iPhone only usable with the operators signed with apple. Also, the new OS broke the jailbreak process of PwnageTool which made it impossible to run jailbreak apps.

However, iPhone DevTeam now released PwangeTool 2.0.2 which overcomes all these issues. IntoMobile also reports that “the PwnageTool 2.0.2 creates custom .ipsw files (the iPhone OS files) that magically replaces Apple’s new iPhone 3G baseband firmware with a more unlock-friendly baseband firmware. So, PwnageTool 2.0.2 preserves your iPhone 3G’s future compatibility with whatever SIM unlock solution that the DevTeam launches (if they ever do)”.

To update PwnageTool just use the internal updating system (sparkle) at your installed software, or download the tool, if you don’t have it yet, from here (or here, or here).

Head to iPhone DevTeam blog to read more about the update.