The iOS 4.3.2 firmware update for iPhone 4, iPad and iPod touch 3G/4G has been successfully jailbroken using custom PwnageTool bundles. The jailbreak though is tethered only for now, which means that you will have to boot it into jailbroken state every time you reboot.
It’s amazing how fast these guys work, or maybe Apple isn’t doing a good job of making life hard for hackers. In either case, the jailbreak is now available, for all you jailbreakers who feel the need to have the latest version of iOS all the time.
Head over to RedmondPie for the instructions.