Well after two days (has it been that long?) I've got some more observations about the latest patch for the iPhone.
1. I'm still getting an improved battery life, and it's pretty significant difference.
2. Applications are once again displaying the 'Crash to home page', they don't really crash the phone, but a few (about 3 out of the 50 I have installed) just are not runnable on the phone.
3. Keyboard has definitely improved in terms of it's delay while typing.
4. Haven't really seen a difference in the connectivity, although I really wasn't having an issue with dropped calls and data connections.
So all in all, it's definitely a two thumbs up patch. I'm looking forward to the patch that will fix the few apps not starting, and Steve Job's announcement about that fix coming next month.