I haven't tried it yet, if anything went wrong I wouldn't know how to fix it as I'm not very adept at techy sorts of things and my warrenty would probably be useless.
It sounds like a lot of fun, there are some games I would like to have more freedom playing, but for me it's just not worth the risk. :3
I jailbroke my 4s and my iPad. My current phone is still under warranty but I might jailbreak it when the warranty is up. I really only liked having a jailbroken device for the added customization/being able to change my font and stuff.