The downside with new Firmware updates is the lack of 3rd party hacks (for now at least) and is no different this time around. Luckily more details have surfaced about a Jailbreak for 1.1.3 with some good news as well.

First off, the release of the Jailbreak could be released early, the team has debated on whether or not to release or wait. In my opinion, it would be beneficial to release it now assuming that official 3rd party Apps require a new update which could patch the hole used for Jailbreaking.

Another upside is that the current Jailbreak has proven to be easy but the final result is less than satisfying.

The method is “about as difficult” as the one used to jailbreak iPhones running software/firmware 1.1.2.

Unlike previous jailbreak methods, the 1.1.3 method only allows applications to run in restricted user mode. This means that certain currently available third-party applications will not run properly. Installer.app, the program used to browse and install third-party apps, for instance, requires additional hacking to run properly on jailbroken 1.1.3 iPhones.

Via: iPhone Atlas.