Is Jailbreaking Still Worth It?

While we’re patiently waiting for our friends over at the iPhone Dev-Team to finish up the new jailbreak for iPhone 4, I thought It might be fun to have a look at some of the cool apps available for those willing to crack open their magical devices. Please keep in mind that by jailbreaking your phone you’re totally voiding your warranty, so proceed at your own risk.

If you’re willing to take the chance, modding your phone can really add a lot of new functionality to those little computers we’re all carrying around. Want to quickly create your own Wi-Fi hotspot? There’s an app for that. Would you like to sidestep Apple’s (s aapl) 3G restrictions? There’s an app for that. Ever thought it would be nice to wirelessly sync with iTunes? You get the idea.

Here’s a few I plan on installing once the new jailbreak drops and they’ve all been updated to work with the latest version of iOS.

  • 3G Unrestrictor lets you get around all those draconian restrictions Apple places on how you can use your 3G connection by tricking the phone into thinking it’s on Wi-Fi. Watch high quality videos, download applications or podcasts, maybe even use FaceTime.
  • Wi-Fi sync lets you cut that USB cable and sync your music, apps, photos, contacts, calendars, and more with iTunes over the air at the touch of a button.
  • snes4iphone is an emulator that lets you relive those heady days of Super Nintendo fun right on your phone. F-Zero on your phone? OMG.
  • MyWi creates a Wi-Fi hotspot for connecting laptops or other mobile devices to your iPhone’s internet connection. You can also use it to enable USB and Bluetooth tethering as a bonus.
  • Action Menu adds some additional handy buttons to the usual copy/paste menu you see when selecting text on the phone. Send the text to your Twitter app of choice, look it up in the dictionary, access clipboard history and more.

Jailbreaking your brand new phone is always a risk. You void your warranty and start down a path of SHSH blobs, root passwords, and SSH connections. Oh my! The Dev-Team and app developers have done a great job at making things as easy as possible, but if you’re not willing to spend some time troubleshooting your own issues, you’re probably better servedleaving your phone factory fresh.

Still, I think it’s well worth jumping through all those hoops in order to pick up the kind of added functionality you see above. What do you think, is it worth it? What apps are you looking forward to adding?