Few days back Apple released the 3.1.2 version of the iPhoneOS and the present PwnageTool 3.13 and redsn0w were not compatible with latest 3.1.2 firmware.
We have seen release of GeHot’s “blackra1n”, which will jailbreak any iPhone or iPod Touch running latest iPhone OS 3.1.2 .But unfortunately it is not hactivated,that means it will not unlock your iPhone. So it is useful only for iPhone users with authorized carrier.
So others are waiting for PwnageTool to Jailbreak iPhone 3.1.2 Firmware and in Twitter MuscleNerd, iPhone Dev-Team member indicated that PwnageTool for firmware 3.1.2 is almost read.
So if the Pwnagetool becomes available we update you with a tutorial about How update to 3.1.2 Firmware with Pwnagetool.