iPhone OS 3.0? Pah! Baseband 2.30.03? Ain’t got nothin’. This evening, the iPhone Dev Team displayed their inimitable talents with a live video demonstration of yellowsn0w’s
big, bad, unstoppable brother: ultrasn0w.

They’re keeping mum on the details to make sure it’s all still working come Friday’s iPhone 3G S launch, though there’s no saying for sure whether or not this crack will work on Apple’s latest hardware. For every other release to date, however, it should be a breeze. Be on the lookout for a release by the end of the work week.

A video of the live demonstration is tucked away behind the jump.