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Where downloaded files is located?
It stored in /var/mobile/Library/Downloads by default. You can change this location on "Save To" tab: click on '..' to go upper level, then on folder name. IF THIS FOLDER DOES NOT EXIST OR READ ONLY, YOU WILL STUCK IN 0% PROGRESS FOREVER. IN THIS CASE, SET SAVE TO /tmp OR OTHER DIR WRITABLE BY SAFARI
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How to open downloaded file?
You need to use the separate application. For a movies, I recommend VLC or yxflash player from the cydia. You also can use ifile
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How to delete downloaded file?
Swipe on file name in "Save To" tab, then tap "Delete"
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Which firmware versions is supported?
It created on 3.2.x and never touched any more. Looks like version 5 is still works
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What is .itorrent or .fastresume dir?
This directory contain various temporary files. You can delete it safetely after torrent is downloaded.
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How to jailbreak?
Please check this