People should be able to jailbreak the second-generation iPod touch when iPhone 4.0 is released in the near future, says iH8sn0w. The independent coder has been working on iPhone 4.0 jailbreaks since early April, and is now teasing a beta sn0wbreeze 1.6 hack with support for the older Touch model. The final v1.6 release should come after Apple officially launches the updated iPhone firmware, likely in tandem with upgraded hardware.
