The great DIY iPhone project that the nimble ones have been waiting has arrived. A group of iPhone enthusiasts have unlocked the iPhone!.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 memory 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.
As mentioned before, If you're not skilled with a soldering iron or if you are not a nimble handed, you might brick your Iphone and be left with nothing more than a very expensive paperweight. The hack also requires better-than-average software skills (certainly more than clicking "Start" button on windows! ;) - apart from 'jailbreaking' the phone to run third party applications, there's a fair amount of Unix work to be done to the phone, too.
So instead of keeping you here, (I am not unlocking mine, :) here is the link to iPhone unlocked!