The first update for the iPhone is now available via iTunes. Users who have recently docked their iPhones have received notification that an iPhone software update, version 1.01 of the iPhone firmware, is available for download and installation. The update is around 7 MB and installs in approximately 5 minutes.
According to Apple, the update includes security and bug fixes. Specifically, the update patches security holes in the iPhone version of Safari and the iPhone webkit which previously allowed malicious attackers entry points from which to exploit the iPhone.
Though speculation was that Apple would rush out the first update to the iPhone in order to patch these holes, including nothing else in the update, it appears as though this is untrue - even despite Apple's failure to mention otherwise.
Users are already starting to notice other changes to their iPhones via