Many people in the comments are asking for a progress update. Any kind of update that we could actually give would be too technical for anyone to understand anyway, not to mention potentially reveal the exploit. Just know that things are going swimmingly and we are working as hard as we can.
The update can’t really be called an “update” per-se. People (for example: our fans on FB) keep posting/emailing/tweeting asking for news on the jailbreak. It’s a simple post where they are simply telling everyone anxiously waiting for iOS 4.1 jailbreak to calm the heck down.
Well there’s your answer: the jailbreak will come when it is complete. Chronic Dev Team isn’t giving proper progress details so that the exploit doesn’t get revealed (and then subsequently get patched by Apple). And besides, even if they post any progress updates for now, they will be far too technical for the average Joe to understand.