After a small feud between iH8sn0w and MuscleNerd, the Dev-Team has released the latest version of redsn0w for Mac and Windows. This beta works on the iPhone 4, 3GS, 3G, iPad (on iOS 3.2.2) and the iPod Touch 4G, 3G, and 2G (non MC models only). It uses the limera1n exploit, and allows users to create custom bootlogos for selected devices, as well as install a custom ISPW.
an option that implements the “DFU” button in PwnageTool. This button (which you can use from Windows) lets you prepare your device for a custom DFU. Even if you’re purely a Windows user, you can get a trusted friend to run PwnageTool over your IPSW to create a custom IPSW. You can now install that custom IPSW on your own Windows box, after you run this redsn0w version
Hit the source for the more info, and read MucleNerd’s recent tweets if you have any questions.