Jailbreaking on 4.0.2 seems to be possible for iPhone 3GS but it's only for old bootrom. We are still not sure when it will actually be released to the world.
The jailbreaking is done via Snowbreeze 2.0.
Actually, there is no point of updating to iOS 4.0.2 as the only thing it does is to fix the PDF exploit problem. You can always fix it using "PDF Patch".
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