Today at exactly 2 minutes past Beta OClock we are releasing a beta version of redsn0w. The release hopes to simplify the jailbreaking of your iPod touch 2G.
redsn0w is currently in beta as it relies on the user running it from the command line, but this new redsn0w functionality is being added into our GUI applications.
If you are not fully confident with using the command line, then hold off for those simpler tools that will be released sometime soon.
You can download the torrent files from here