Jailbreak your Device using LIMERAIN
NOTE: Limera1n is a Jailbreak tool and NOT an Unlock tool.
(if your baseband is 5.14 / 2.10.4 you need to wait until the unlock is released - No ETA though)
Limera1n works for the following devices highlighted below.
If you're a 3G and a iPod touch 2G user,
see this
For Windows - Download LIMERA1N
For MAC - Download LIMERA1N
Once youre done with the download,
Plug your device and run Limera1n.
Its pretty straight forward and just follow the on screen instructions (youll be done in 3 mins)

Reboot your device.
Once done, an app named Limerain will be in your device.
Connect to your WIFI, Launch Limerain and install Cydia.
Reboot your device.
Launch Cydia and the very 1st thing you should do is to SAVE YOUR SHSH

(How do I save my SHSH in Cydia ? -
read this 
)
Then youre Done
Reminders :
* Since Limera1n is still in beta, try it at your own risk.
* Limera1n is a Jailbreak tool and NOT an Unlock tool.
(if your baseband is 5.14 / 2.10.4 you need to wait until the unlock is released - No ETA though)
Some appleites are having issues with Limera1n. (no icon, stuck on dfu, did not jailbreak, etc etc)
One appleite (pkeaarcle - thanks for the tip!) was having issues wiht the JB and he used an older version of Limerain, and basically worked for him
So, to the other users who are having issues, Ive uploaded Windows Beta 2, Beta 3 and Beta 4 of Limera1n.
Hope this versions work for you

(its always best to use the updated version above)
Windows :
Beta 2
Beta 3
Beta 4
I will be updating this thread as needed.
Now i have a Jailbroken iPad running 3.2.2
Thanks Geo! 