Apple's newest operating system for the iPhone will be made available for download today is available now. iOS 4 comes installed on the new iPhone 4, which some of you will be lucky enough to get this week. iOS 4 will also work on an iPhone 3GS, and a 3GS can take advantage of just about all of the new features. If you have an iPhone 3G, you can install iOS 4 but some of the great new features which require more horsepower, such as multitasking, won't work. iPhones earlier than the iPhone 3G cannot run iOS 4.
If you want an overview of the reasons that you should install iOS 4 on your iPhone, read my post Why Lawyers Will Love iPhone software 4.0. If you want a great and detailed look at all of the iOS 4 features, Rene Ritchie of TiPb wrote this great article. Apple's website also has this page on the new features in iOS 4. And perhaps of some interest, Jeff Gamet of The Mac Observer offers his tips for upgrading an iPhone to iOS4.
What time today will iOS 4 be available? Rene Ritchie noted in this post that last year, iPhone OS 3 was available at 10:30 am Pacific / 1:30 pm Eastern. We'll see whether Apple follows a similar schedule this year. [UPDATE: Apple was just a little bit earlier this year. The update became available shortly after 10 am Pacific / 1 pm Eastern.]