Engadget are reporting that the GSM Palm Pre has already been unlocked but its not a software solution, it relies upon a small insert that goes into the phone with the Sim Card and fools the phone into thinking it is on O2.
All 3G data and voice features are working fine and there is a video of it in action above. Unfortunately Engadget are also reporting that the European Pre does not have the radios for US 3G so if you do decide to import one into the US be prepared for Edge only data.
via Engadget Mobile
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