Updating your beloved iPhone is the biggest buzz that seems to be dong the rounds. The latest iPhone firmware version (1.1.1) is now live and you can update your super-duper handset any time you want. On one side you’ll get an access to the WiFi iTunes Music store, improved security and louder volume, while on the other, you’ll lose all your favorite native third party applications, so you will be left with the Web 2.0 apps and services on your iPhone. After this we hope that the latest firmware is not hacked too. Update at your own risk.

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