Easily installed iPhone apps are back on version 1.1.1. If you point your iPhone/Touch browser to jailbreakme.com, click "install AppSnapp", it'll use the TIFF exploit to jailbreak your phone and install Installer.app.
Our test notes include the following:
—Before you start, I'd probably switch to Wi-Fi and turn off the auto-screen lock (set it to never under general in the preferences). This takes a few minutes, and you probably don't want your screen going dark while this happens.
—The magic'll run in the background, eventually kicking you back to the lock screen. When you return, you should have an installer.app icon on your menu.
—This worked for Benny and Blam.
The process is kind of scary if you think about it. With a click in Safari, a program with root access has been dropped on your iPhone, with full access to all your data. If you're not feeling brave, you may want to wait awhile to see how this shakes out. But I do see an iPhone Dev Team affiliation, and TUAW supports it, so I'd say we're looking good. AppSnapp includes some other features as well, such as a patch for the TIFF exploit, which they claim will leave you with a safer iPhone after you install the program than a regular phone running 1.1.1. More updates and impressions as they come along, let us know your success/horror stories with this in the comments. [jailbreakme via TUAW]