Last night, iPhone firmware version 1.1.2 became available. Though available for download here, the firmware is still not available via the iTunes auto-update feature. Strangely, however, if performing a restore on your iPhone via iTunes, iTunes will download and install the 1.1.2 firmware. Clearly it is only a matter of time, likely within the next few hours, before 1.1.2 is fully integrated with iTunes.
As expected, the 1.1.2 firmware fixes the TIFF exploit (which was the blessing that allowed hackers to jailbreak the 1.1.1 firmware) and adds support for many languages. As a result of the TIFF exploit fix, it comes as no surprise that jailbreak methods such as AppSnapp (jailbreakme.com) no longer work. If you want to keep a customized iPhone with 3rd party software, custom ringtones, etc - stick with 1.1.1, at least for the time being.
For those of you who still haven't gotten around to upgrading to 1.1.1 from 1.0.2 and are looking to avoid 1.1.2 for the time being, now is the easiest time to do it. If you don't need to restore your iPhone before upgrading (you haven't modified, jailbroken, or otherwised customized your iPhone), you should have an easy upgrade to 1.1.1 at this time using the iTunes feature. This will change as soon as iTunes starts showing 1.1.2 as the update firmware version, however.Once this happens, or if you have modified your iPhone, you'll have to force your firmware version when updating or restoring your iPhone. Follow the instructions at the preceeding link, it's quite painless to force the firmware version through iTunes. Just make sure you select the 1.1.1 firmware from your local harddrive when doing so.