Apple released iPhone Update 1.0.1 yesterday. Here is a list of updates/fixes that appear to have been included after scouring the forums.

Warning

- It forces a full restore prior to update if you have a customized/hacked iPhone, so make sure to save your Camera Roll which will not automatically get synced prior to restore.

Not Fixed / Other

- Safari is still crashing for some users.
- Missing option for WEP or ASCII password (image) for Wifi password. The iPhone must be able to determine this automatically.
- The checkered screen pattern was not affected by this update.

Fixes

- VPN appears to work more reliably.
- Not fully charging battery indicator appears to be fixed.
- Passcode lock now offers time-out options up to 1 hour.
- You can automatically BCC yourself in Settings -> Mail
- Settings -> Phone -> Call Forwarding remembers the last phone number you entered.
- Some people claim that the speaker is subjectively louder.
- Compatibility improvements with certain iPod accessories that access audio via the Dock (including Belkin Auto Kit).

Apple also posted an updated User Guide (PDF).

Related Forum: iPhone

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