One of the biggest downsides to the 3G iPhone release was the lack of tethering. Now, thanks to the trusty NetShare app, you can do just that through a SOCKS5 proxy (ya, new to me too). Just download and go through the process. Sorry, pay $10 and download and go through the setup. As many folks have pointed out, watch out, because on a 3G iPhone you could suck down some serious bandwidth and get a big fat flag on your account. Yup, AT&T can cut you off if you use too much bandwidth. Course, if you ever wanna get out of your contract this might be a good method.

Update: The app has already been pulled. Big surprise.

Update 2: Ok, it’s now back and I’ve updated the below link since that changed.

NetShare is available here