Comparison: Firmware 1.0.2 vs Firmware 1.1.1

Apple just released a new Firmware update (version 1.1.1) which will re-lock the iPhone and erase all third party applications.

CAUTION: DO NOT UPDATE YOUR IPHONE WITH THIS NEW FIRMWARE VERSION!

Here is a comparison chart from Gizmodo. Basically this update will cripple your iPhone, only one noteworthy new feature has been introduced: Wifi iTunes Music Store compatibility! Now you can purchase Music from ANYWHERE (within the U.S. boundaries). Great!