Apple releases iOS 4.3.2, Verizon iPhones get 4.2.7
Apple today released iOS 4.3.2 today for iPhone and iPad users fixing issues with blank/frozen video during FaceTime calls and international 3G issues with the iPad. Verizon iPhone users get iOS 4.2.7.
You can download the update by connecting your device to iTunes and clicking "Check for update." Alternatively, MacStories has posted direct links to the downloads to the restore.ipsw files, if you're comfortable with that type of thing.
MacStories notes that most devices get build number 8H7 while the CDMA/Verizon iPad 2 gets build number 8H8. Apple separately released iOS 4.2.7 to Verizon iPhone users.
I installed the 666 MB update on my iPhone 4 (and iPad 2) without issue.