It was very long wait for iPod Touch 2G owners as it was the only device which had no jailbreak or unlock tool till today but now you have one redsn0w 0.7 for Windows & Mac. Redsn0w 0.7 is multi device & Multi platform Jailbreak & Unlock utility.
With Redsn0w 0.3 you had option of semi-tethered jailbreak meaning once you reboot your iPod Touch 2G you will lose jailbreak and you need re-jailbreak with redsn0w. With Release of Redsn0w 0.7 you can now not only jailbreak but also Unlock iPod Touch 2G 3.0 firmware.
Here is complete guide on jailbreaking & unlocking iPod Touch 1G/2G OS 3.0. You must install iTunes 8.2. iPod Touch users need to pay $9.95 to upgrade iPod Touch OS 3.0 read how to update iPod Touch 1G/2G to Firmware 3.0 for Free.
How to Jailbreak & Unlock iPod Touch 1G/2G Firmware 3.0 on Windows & Mac
2. Download iPod Touch OS 3.0 from below links and save it in redsn0w folder
For iPod Touch 2G:- iPod2,1_3.0_7A341_Restore.ipsw
For iPod Touch 1G :- iPod1,1_3.0_7A341_Restore.ipsw
3. Extract Redsn0w 0.7 zip files in folder name it as redsn0w
4. Connect your iPod Touch to computer and start iTunes 8.2
5. Hold down shift (For windows)/ Option (For Mac) and click the Restore button and brose iPod Touch OS 3.0 firmware in step 2
6. After iTunes completes restoring OS 3.0 firmware, launch Redsn0w 0.7 from redsn0w folder
7. Click on browse button and locate iPoD Touch Firmware 3.0 ipsw file
8. Click on Next to continue
9. Check install Cydia option
10. Carefully follow Screen instructions to complete jailbreaking & unlocking process.