Aloha airfrancisco,
I was able to download and unzip the files correctly, at least the first time. In all subsequent downloads, the /Applications/iJailBreak/resources/iphuc/iphonefs folder was empty, which was the primary reason for failure to complete.
The first time I tried to jailbreak my iPhone, I got the error message from on of my earlier posts - namely, that the file in the iphonefs folder wasn't there (even though I provided a screenshot to prove that it was). At that time, I had turned off my external HDD, so I quit out of the window asking for the location of my iTunes library. When I actually tried to sync my iPhone with iTunes, I noticed the problem.
HawaiiMacAddict
P.S. I originally thought I had a bad download, so I deleted the original app and re-downloaded it - I just thought I should have to wait more than 25 minutes for this app to do something.