Technology geeks and iPhone rebels the world over cheered as the iPhone 4 jailbreak became available online.  The iPhone Dev Team released the software on on Sunday. Once a device is jail broken, users will be allowed to download unauthorized applications and run the device on unauthorized networks.

The timing could not be better, in fact, just a few days ago, the U.S. Copyright Office ruled that “bypassing a manufacturer’s protection mechanisms” to allow “handsets to execute software applications” no longer constitutes a violation of federal copyright law. However, Apple responded that jail breaking would continue to violate the warranty of a device. Furthermore, it added that jail breaking would make the device unstable and vulnerable to software crashes.

The new version of Jailbreak does not require the device (iPhone, iPad, iPod) to be connected to a computer in order to run the update. Instead, this can be done via the inbuilt mobile browser, Safari.  While the software is supposed to work on all iOS 4 and iOS 4.01 devices, it does not work on the iOS 4.1-beta system.

Some early reports claim that Jailbreak interferes with the FaceTime and MMS functions on the device. However, demand remains very strong and most of the servers have been overwhelmed with traffic.