iPhone Dev Team released QuickPwn yesterday to tackle firmware 2.0.2. You can now use QuickPwn to QuickPwn to upgrade iPhone to firmware 2.0.2. QuickPwn is actually a new tool to jailbreak iPhone running firmware 2.0.1/2.0.2 but it’s much easier and convenient for jailbreak iPhone running the latest firmware.
As pointed out by iPhone Dev team, QuickPwn does not require you to create a custom IPSW and perform a complete iTunes restore. It takes less steps to jailbreak your iPhone, compared with that when using WinPwn. And, here is the excerpt from iPhone Dev Team Blog about QuickPwn,
Using QuickPwn does not update the firmware itself, this tool is designed to ?Pwn? (the ability to install future custom non-Apple firmwares) , ?Jailbreak? and install Installer or Cydia on a given device. If your device is running 2.0.1 and you QuickPwn it, it?ll still be running 2.0.1, although it will now be Pwned and Jailbroken, similarly if your device is running 2.0.2 and you QuickPwn it, it will then be running 2.0.2 but the device will now be Pwned and Jailbroken. It will also activate (not unlock) devices that are being used outside of their intended territories and cannot be activated using iTunes.
If you want to update to 2.0.2 then use the normal iTunes update to get to 2.0.2 and then use QuickPwn to Pwn, Jailbreak and Activate, remember that the 2.0.2 update includes a baseband update for the 3G iPhone, so depending what your long term intentions are for the phone, update wisely, of course in the upcoming PwnageTool application you?ll be able to create a custom ipsw without the baseband update enabled.

You can download QuickPwn here if you want to upgrade to firmware 2.0.2 (or you accidentally upgrade it). For now, however, QuickPwn is available for Windows user only. But you should expect the Mac version will be released soon.
The jailbreak process is very straightforward, compared with the procedures in WinPwn. But please note that the tool assumes you have an iPhone running firmware 2.0.1/2.0.2. That means if you’re going to upgrade to firmware 2.0.2, you should first upgrade the iPhone firmware through iTunes. And then you jailbreak it through QuickPwn.
To jailbreak using QuickPwn,
1. Download QuickPwn and firmware 2.0.2 (2G/3G). Then extract QuickPwn and put the firmware file in the same folder of QuickPwn.
2. Connect your iPhone to the dock/USB and launch “QuickPwnGui120″ and select 2G/3G iPhone.
3. Follow the instruction to locate your firmware (i.e. IPSW file) and select options to install Cydia & Installer. And, kick off the jailbreak process. Wait for the process to complete and your iPhone is jailbreaked.
4. For 2G iPhone, your iPhone may still be locked at the stage. Enable Wifi and launch Cydia. Download and install Bootneuter (under “Utilities” section).
5. (For 2G iPhone) Launch Bootneuter. Make sure “Unlock” and “Neuter” are enabled. Click “Flash” to unlock the iPhone!

Update: You can now use QuickPwn to upgrade & unlock firmware 2.1. Firmware 2.1 for iPhone is much stable than 2.0.x version, check out the complete guide for jailbreak firmware 2.1 here.
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