Thanks to BENM.AT via TechCrunch now you can enable tethering on your iPhone 3.0.
First you would need to upgrade to iPhone OS 3.0 and then follow the process as shown in TechCrunch’s article.
Or you best open this link on your iPhone follow the steps.
More updates soon….
UPDATE:
I was able to connect to internet through tethering.
1) Follow the steps at http://help.benm.at/help.php
2) After completing step 1, Go to Settings -> General -> Network -> Internet Tethering and switch it on.
3) You are done, you can now connect to internet via Bluetooth or with a USB (I used USB).
Check the screen-shot below.

Setting -> General -> Network

Settings -> General -> Network -> Internet Tethering

After Connecting To Internet (using my Laptop) i.e. Succesfully tethered internet using iPhone on AT&T [*In top of this pic "Internet Tethering" can se seen
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