Even though it was announced during the Apple event earlier this week, the new iPhone 2.1 software update didn’t go live until this morning. If you’re still rocking the old iPhone 2.0 firmware, you can feel free to hop into iTunes to get your new update now.

Among what you should expect from iPhone 2.1 are a decrease in dropped calls, better battery life for most users, reduced backup time to iTunes, improved email reliability, faster installation of third-party apps, fixed bugs that caused crashing of third-party apps, improved text messaging performance, faster loading of contacts, improved 3G signal strength accuracy, Genius playlist creation, and the ability to wipe the data after ten failed passcode attempts.

If you’re running anything that requires a jailbroken iPhone, you may want to hold out on the update until iPhone 2.1 gets jailbroken.