The firmware was released this morning for the Touch and is totally free assuming your already running a 2.X version firmware. If you are still using 1.X firmware, you can upgrade for $9.99.
The 2.1 firmware isn't coming to the iPhone until Friday but Steve Jobs assured us that this will fix the iPhone 3Gs connectivity issues, such as dropped calls.
Both devices will respond faster, have smoother transitions, and boot up faster. Steve also said the new firmware will help extend battery life greatly.
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