Here is the exact text from the iPhone updater. I'm doing the firmware upgrade now and will report on it soon. Still no cut and paste - why not????
"New features include: New Maps application - Find location, improved UI, Send SMS test messages to multiple reciptients, Customize Home Screen - Rearrange icons, Add Safari bookmarks to the Home screen, Create up to 9 Home Screen pages, IMAP support for Gmail, Support for iTunes Store movie rentals, Enhanced Video Player - Chapters, Subtitles, Alternate language tracks, Lyrics support in iPod.
