Many sites are focusing on the potential for destruction that has been exposed by the creator of jailbreakme.com, rather than the benefit and protection that it actually represents.
Yes, the exploits used by JBM3 (jailbreakme version 3) could be convoluted into something sinister or malicious. What most people fail to realize is that JBM3 did not create these exploits; it simply uses them. These exploits in the iOS Firmware already exist in your iDevice, they were not put there by JBM3. The author of the PDF attack that injects the Cydia code simply found the hole in the software left by the Apple Developers themselves. This person realized beforehand that the exploits could be used for evil; therefore he created a tweak within Cydia that repairs the exploits so that you are protected… even before Apple affords that protection! PDF Patcher 2 is free and (this is important) will work on ALL iDevices. Support for many of the older iDevices was left behind with iOS 4.0, such as the iPhone 2g and 3g, any update or patch offered by Apple will not work for these devices as they are not eligible for the update. These devices MUST be jailbroken in order to be properly protected. Ironic, huh?
Without JBM3, another hacker could easily have discovered these exploits and used them to compromise your device for harmful purposes. But with it, these exploits were brought to light in a way that FORCES Apple to repair the iOS swiftly and effectively. Some National Governments are already pushing Apple to affect a solution; with Germany leading the pack.
Jailbreaking your iPhone has been legalized in the United States, as for the country that you live in please be sure to consult your local laws before visiting the JBM3 site. Jailbreaking your iPad and iPod are not currently covered by the ruling that allows iPhones to be jailbroken in the US, though this is expected to come around soon. For more information, please visit the Electronic Frontier Foundation (EFF), our advocates on this cause.
The benefits to jailbreaking your iDevice are many, almost limitless in fact, however this process is not for everyone. By jailbreaking your device, you are violating the EULA with Apple (as well as your warranty) but fear not! A simple restore through iTunes and you are back in their Garden without a care in the world! I will post articles that tackle these processes in depth in the very near future.
Remember, right now your iDevice is vulnerable to attack. Without the PDF Patcher 2 fix for these exploits only visit websites that you trust! If you choose to wait for the Apple Software Update, please do so with care. As of the moment of this writing, no one has used these exploits for evil, but the opportunity does exist.
Be sure to follow @Slyppry on Twitter for the latest updates on Apple and other Mobile Devices, plus free support for many issues with iOS and Android.