Conglomeration of wonders

It was interesting to note that the thrust of this preview was towards increasing application use – I suspect Apple must be making profit from its app store. Developers will have access to Thousands of new APIs (which the developer can use to develop new types of app). App development will be restricted to Objective-C, C, and C++.
To clarify
User Pros

Multi-tasking - Full and partial - including seven background services: fast app switching, Audio, Video, Location, Push and local notifications.
App Folders – to increase handset available apps to 2160
Wallpaper, Mail – unified inbox, better encryption.
SSL VPN, eBooks, social gaming for games apps
hopefully, many new types of app to become available.
Cons
iAd (in HTML5) the ads will have access to your private information?, are fully interactive, but will only interrupt you 10 times a day! The profit from the ads will be split 60/40 between developers and Apple.

The full update will only be available to 3gs users (during the summer – about the same time as the iPhone 4 is released), and iPad users in the autumn.
The reality is that this update should bring the iPhone up to the level of functionality (rather than usability at which it beats all comers) to the latest non Apple Smartphone's of six to twelve months ago.