The best and the most easiest jailbreak tool has just been updated (unofficially?) to bring support for iTunes 9.2. Earlier when Apple released the final version of iTunes 9.2, it broke the compatibility with Spirit and so this new version brings the required fix to make it compatible with iTunes 9.2. However no new feature has been added. It still does not work with iOS 4 and iPhone 4. Only iOS 3.1.3 and 3.1.2 for iPhone 3GS, 3G, 2G, iPod touch, and iOS 3.2 for iPad is supported.
Some of you might have noticed the annoying 1604, 1600 error when restoring to iOS 4 custom firmware in iTunes which is built using PwnageTool 4.0 or 4.01. The error in question looks something on the lines of this.
Apple has seeded iTunes 9.2 beta, along with iOS 4 GM (pre-release) for iPhone 3GS, 3G and iPod touch via Apple Developer Connection. This release is strictly for testing purposes and is currently available for Mac OS X only.