This is going to be a landmark achievement for Chronic Dev Team.
UPDATE as of 3:38 PM Manila Time, October 10, 2010 --
GeoHot's LimeRa1n has upstaged GreenPois0n to become the first ever working jailbreak for iPod Touch 4G. Learn how to jailbreak iPod Touch 4G iOS 4.1 with LimeRa1n via the link.
CDT's greepois0n, which will be released today 10/10/10 at 10:10:10 AM GMT (6:10:10 PM, Manila time) is set to be the first ever working jailbreak for the recently released 4th Generation iPod Touch 4th running iOS 4.1.
We'll update this post as soon as we get the greenpois0n download link and jailbreak guide from Chronic Dev Team.
*Keep in mind that jailbreaking any iDevice voids its warranty and makes it vulnerable to worms and viruses. Also, improper jailbreak procedure can brick an iDevice. Use greenpois0n at your own risk.