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There are some unconfirmed reports of bricking and new reports that downgrading from 1.1.1 to 1.0.2 can turn the iPhone into a Touch.
Waiting is just going to get you a better phone Freak...
Granted, it was pretty cool to buy a song on mine.
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http://news.bbc.co.uk/1/hi/technology/7017660.stm
Juk [img]/images/graemlins/smile.gif[/img]