CAPTION: And you paid 40000 pesos to put in a Smart SIM.
Just go to Globe, get an iPhone 3G, wait for January 1 (or 2, in the Philippines), go to Greenhills (or, for a shameless plug, me if you want it done cheaper, although I have to do this with my dad's iPhone 3G so I can know how this works, if he'll let me), and cancel your Globe contract.
CAPTION: I got my custom firmware for iPhone 3G pwnage ready.
Anyway, the ever-infamous iPhone Dev Team have announced that the iPhone 3G's SIM unlock is imminent, aka on January 1, 2009. They advise interested iPhone 3G owners NOT to update if iTunes wants them to if they want to unlock the SIM, because of, well, let's say it's something technical.
Additionally, Mac users who updated to yesterday's update (Leopard 10.5.6) will also not be able to jailbreak the thing themselves.
CAPTION: Mac jailbreakers, don't update! Wait until further instruction from the iPhone dev team.
So if you've been wanting an iPhone 3G, but you don't want to be confined to Globe's plan, wait 2 more weeks (as of this writing).
On a semi-related note: While iPod touch owners don't have to worry about SIMs and stuff, there's still no chance in hell for an iPod Touch (2nd Generation) jailbreak to be found, at least this year (that is not fake, of course). So if you were asking, no, there's no update on that. The 1st iPod touch remains the safest multi-touch device for hacking (pretty much).
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