“You will need to downgrade to 1.1.1 if you bought a system with 1.1.2 already installed. This is discussed in the README.txt file in the zip and at the this jailbreakme.com webpage. This procedure is only for iTunes-activated iTunes [editor’s note: I think they meant “iPhones”] and iPod touches–"hactivated" iPhones need not apply. That’s because once you upgrade to 1.1.2, you’ll need to be able to have a phone that’s activated before running the program.”
It wouldn’t be much of a miracle if Apple gave up its program to keep its devices locked down in the near future. The Cupertino company already got pushed aside several times in terms of security and the latest event proves clearly that today’s market is just not cut for their policy.
So it’s either shape up and give up, because current updates seem to have the same effect as the Bob Dylan song: “Blowin’ in the wind”.