What are the high level steps and limitations for unlocking & jailbreaking an original iPhone My daughter has an original iPhone, aka iPhone 2G.  It is currently unlocked and jailbroken, but that was all done about 2 years ago.  She wants the latest iTunes now, so I am revisiting what the procedure and limitations are for updating, unlocking, and jailbreaking.

I think the right high level steps are:


Backup everything we want to keep. I
am pretty sure the phone gets wiped
during the process. 
Download iTunes
current release and install it and
let it do whatever it wants to
update the phone. 
Follow the
instructions in the iClarified guide
"How to Unlock/Jailbreak Your iPhone
2G on OS 3.1.3 Using RedSn0w
(Windows)" at
http://iclarified.com/entry/index.php?enid=7436
which calls for RedSn0w 0.9.4, BL
3.9, BL 4.6, and iPhone1,1_3.1.3_7E18_Restore.ipsw
Re-install apps via iTunes.  Restore backed up personal data.


Is this basically correct or are there any other gotchas or limitations?  

Are there better or more current guides than the iClarified guide?

The phone will be used on T-Mobile.

meta question:  what tag should be used for an original iPhone?
Yes, you are correct on all points.  It's pretty straightforward following the points you listed above.