GeoHotz announced yesterday that he will not be updating the Purplesn0w and purplera1n tools for OS 3.0.1. In fact, he won't be updating them at all. One reason - the DevTeam tools already work. He also mentions that the tools were merely a proof of concept, trying to show better and much more painless jailbreak methods exist than the DevTeam's, which he claims to be "complex"! Taken from GeoHotz says R.I.P Purplesn0w and purplera1n

Yes indeed GeoHotz has pulled himself off from the race. We need to really appreciate the work as he proved that there are chances which can be worked around. I personally feel there should be some competition like apple and dev are currently on. Competition really makes the things change drastically.