WOOOT, it's finally here.
And from what I'm reading on the blogs, it sounds like this is the 1.4 patch that makes the new 3G iPhone fully functional :)
Probably the biggest things for me in the new update are:
1. You can update your apps without problems
2. App crashing is fixed
3. Apps are more responsive
4. Backups are faster
5. Improved signal
Probably 3 and 4 are a toss up in which is more important, but the updating and crashing of apps is a HUGE thing. I pretty much had stopped trying to update or get new apps because of having to wipe my iPhone twice completely and set everything up from scratch.
I've also heard that the dropped call issue is really fixed, but honestly I really haven't had that problem.
Time to rush home and install the update :)