Along with the iOS 4.2 update for the iPad, Apple also released it for the iPhone as well, the main update being AirPrint and AirPlay.
The update is quite large at 624.2 MB and expect everyone with an iPhone to be downloading it right now!
Here is what is included in the update:
iOS 4.2 Software Update
This update contains improvements, including the following:
• AirPrint
– Print mail, photos, web pages and more directly to AirPrint-compatible printers on a local wireless network
• AirPlay
– Wirelessly stream videos, music and photos to Apple TV
– Wirelessly stream music to AirPlay-compatible speakers and receivers, including AirPort Express
• FaceTime improvements
– Initiate calls with Voice Control
– Initiate calls from an SMS conversation
– Support for Bluetooth accessories
• Find text on web pages in Safari
• New fonts setting available for Notes
• New SMS/MMS text tones and the ability to set custom tones per contact
• Additional restrictions (parental controls) available:
– Account settings
– App deletion
– Game Center friends
– Location settings
• Ability to import .ics files into Calendar
• Bug fixes, including:
– Eliminates sound artefacts occasionally captured in recorded audio with 4th-generation iPod touch
– Improves audio playback to car stereos via USBProducts compatible with this software update:
• iPhone 4
• iPhone 3GS
• iPhone 3G
• iPod touch 2nd generation or later
So what do you think of this update? It is certainly not as exciting as the iPad update!

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Apple Also Release iOS 4.2 Update for the iPhone: Along with the iOS 4.2 update for the iPad, Apple al… http://bit.ly/h0qKiF #WHS #SBS
Why would I want to download an update for Andrew Edney's iPhone? 😉
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You never call me anyway.