If you plug your iPhone into iTunes today you will be offered the chance to update your software to version 1.1.1. The main part of the update brings access to the iTunes Wi-Fi Music Store, so you can preview, purchase and download your tunes whilst you are out and about. This is a nice feature and one that many users will be pleased to see (promised by Steve back when the iPod touch was announced).
This new version adds a lot of new features and fixes including;
- Access to the iTunes Wi-Fi Music Store
- Improved speakerphone and receiver volume
- Home Button double-click shortcut to phone favorites or music controls
- Space bar double-tap shortcut to intelligently insert period and space
- Mail attachments are viewable in portrait and landscape
- Stocks and cities in Stocks and Weather can be re-ordered
- Apple Bluetooth Headset battery status in the Status Bar
- Support for TV Out
- Preference to turn off EDGE/GPRS when roaming internationally
- New Passcode lock time intervals
- Adjustable alert volume
Apple have posted a video showing the new features here.
If you have third party applications installed, then the update is reported to restore your iPhone to its virgin state, removing all the extra apps. An unlocked iPhone seems to be returned right back to its pre-activation state, with no chance of using the various applications to hack again, so I guess it is just a waiting game for some.