Apple already released a new iPhone Software Update to developers. The new version is iPhone 3.1 and has been released as beta to iPhone developers.
There are several new features in iPhone 3.1 that have already surfaced. The iPhone 3.1 will let you save a copy of video locally, so you can edit without overwriting the captured video.
Additionally Voice Control is now supposed to work over Bluetooth, the iPhone vibrates when moving icons, new Video APIs and improvements to OpenGL.
If the new iPhone 3.1 OS is fixing the overheating issue some iPhone owners reported is not clear. Also we do not know yet when Apple is going to release the iPhone 3.1 Software Update.
More details on the TheiPhoneBlog. Via Techmeme.