As Jason blogged, Apple released an update for the Apple iPhone last night that was geared towards security updates for Safari. However, there were also a couple other minor improvements that actually may be quite important for iPhone owners. Prior to the update I only saw Inbox, Trash, Drafts (if I had any started), and Sent in my 4smartphone hosted Exchange IMAP mailbox. I now have visible access to ALL of my IMAP folders, as it should have been with true IMAP, in addition to folders called
RSS Feeds (with subfolders labeled Microsoft at Home and at Work), Sync Issues (with subfolders for Conflicts, Local Failures, and Server Failures). These additional folders are may be specific to my IMAP account and I'll have to check them out some more. The mail program still doesn't manage email like it should with IMAP (as seen with Yahoo! Mail), but getting access to my folders is a step closer.
Another minor improvement is that you can now set the time for the Passcode Lock to kick in with choices of immediately, 1, 5, 10, 15, 30, or 60 minutes. There may be other minor changes too so dive in and see if you can find any and let us all know.
BTW, if you hacked your iPhone at all like I did with iFuntastic and/or iPhoneRingToneMaker then you may have a bit longer firmware update process due to a full phone restore and a couple of extra resets. I was a bit nervous at first, but everything came out fine and was fully restored in the end so just connect your iPhone and hang on for the ride.