Heya...welcome to MR. No expert, but I believe the answer is a qualified "yes". Wait for more experienced peeps to chime in.
For sure, current yifanlu Kindle jailbreak DOES NOT WORK on Kindle3 with FW v3.2.1.
But this will be rectified shortly I hope.
Search the MR forums as well for "kindle" and "Jailbreak" - there are a ton of great threads on the matter.