After its commercial release, hackers all over the world are attempting to reverse the iPhone Sim Free software unlock by sniffing packets and analyzing the IPSF server traffic.They are advancing at a fast pace and the crack may be ready as soon as tonight. However, not everyone is trying that route: part of the iPhone Dev Team is still independently working on their own unlock.
Ironically, it was iPhone Sim Free who used iPhone Dev Team's research to achieve the unlock.
However, part of the original iPhone Dev Team people — who created the tools that made possible for people like GeoHot and iPhone Sim Free to achieve their respective unlocks — are not working to crack the IPSF solution. Their objective is still to obtain the unlock independently and publish it as the true free software unlock, out of respect for the IPSF people. (These are the same guys who turned down a $100,000 offer from a commercial company to buy their research.)
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Whatever comes first, the crack or the true software unlock, it looks like the iPhone Sim Free team and their resellers won't have much time to get rich.