The guys over at the iPhone/iPod touch dev team, never content to leave well enough alone, have reported that they've decrypted the ramdisks for the iPhone and iPod touch running version 1.1.1 of the firmware.

According to The Unofficial Apple Weblog, this step brings the devices closer to a free, non-commercial unlock for the 1.1.1 version of these devices as opposed to the SIMFree 1.1.1 unlocks, which are now on sale for US$60-US$100.

The group has also announced that it is working on an unbricking solution as well as an unlocking solution. Representatives have stated that they're working on providing, at the very least, a baseband downgrader in order to make this possible.

Let us know what you think over in the comments of forums.