Or at least that's what a group of programmers who have their eyes on the newest will try to do iPhone OS for the Apple Lossless Audio CODEC (ALAC), and they want to make it compatible with the first version of iPhone because Apple Lossless Audio CODEC (ALAC), officially announced that iPhone OS 4.0 will not work in any form with the first generation of iPhone.
Unfortunately there will be no version of iPhone OS 4.0 which is compatible with iPhone 2G so these programmers will have to modify the codes from iPhone OS for it to work on iPhone 2G, and I am thinking about the possibility of changing a firmware of iPhone 3G considering that this is the closest model. Programmers study how Pwnagetool make custom firmwares and they will probably work in a similar method, i.e. they will either release a program to modify a firmware iPhone OS 4.0 in such a way that it works with iPhone 2G or they will distribute the modified version themselves, although this is illegal.
Whether or not something will come out of this project remains to be seen, until the next one everything must be viewed with a certain dose of mistrust because all kinds of programmers have appeared lately.
