The official “jailbreak” for Windows Phon 7 has finally seen the light of the day in case you aren’t ready to pay $99/ year for an official Microsoft developer account (which will allow you to unlock multiple handsets). The ChevronWP7 unlocker will cost you $9 USD per device so you can load unsigned application to your Windows Phone. for more info head over to the official site here and the blog here. Unfortunitally, payments must be don via Paypal which means that your country may not be elligble. More payment options are said to be coming soon though.
Thanks to everybody who sent this in!