The Inquirer posted a news story that a hacking group has published the first DIY-tutorial for unlocking the Iphone to work with a standard SIM card from any cellular network.
>> Iphone gets unlocked
The unlock requires physically removing the back of the Iphone, and soldering a wire and a switch onto a single trace on the back of the circuitboard. Bypassing this trace allows access to the boot emory on the phone which is used to send commands down to the flash storage on the device. Those commands allow for the carrier lock to be patched.
>> Iphone gets unlocked