It's been unlocked/jailbreaked and working flawlessly.
It has been upgraded to 4.0 iOS (with multitasking enabled) so, it is sometimes (very rarely) slow for about 5-10 seconds..
If you want, you can downgrade it.
I've used it without a case for about a month (total use of not even a year) so there are ticks and scratches.
If trade for 120GB, I'd like $20 since I saw one of those 120GB selling for 100$ on head-fi.