1.1.2 Officially Released Last Night
Here I had thought that Apple released it on Friday, in conjunction with their european iPhone launch. No, they officially launched it Monday night, to little fanfare. Again, there isn't much to this update. It closes the TIFF vulnerability that allows people to easily hack their iPhones at jailbreakme.com, that's about it.
My understanding of feature updates is this: Apple has to dangle the carrot to make official firmwares more compelling than unofficial, hacked firmwares. Are iTunes charging icons and international keyboards going to cut it?