Apple have released iOS 4.3 for the iPhone 4, iPhone 3GS, iPod Touch (3rd & 4th generation), iPad & iPad 2. Note that iPhone 3G has been dropped from the updates now, this leaves iPhone 3G owners a bit put out as their software seems increasingly slow and buggy since updating to iOS 4. The new update includes better AirPlay options, iTunes Home Sharing and Personal Hotspot.
iTunes Home Sharing lets you listen to content from your iTunes library anywhere around the house through the Wi-Fi connection on your device, similar to streaming on an Apple TV.
Personal Hotpost is similar to the existing Internet Tethering option only it allows the sharing to happen over Wi-Fi and to up to 5 devices in total (3 through the Wi-Fi connection).
iOS 4.3 also offers a significant boost in speed for javascript handling on these mobile devices.
For more information: http://www.apple.com/ios/
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