@tazinlwfl: wrong
To take a screen grab on your iPhone with Software 2.0, just hold down the home button, then tap the top button. Your screen will flash white signifying you have captured your screen.
The image will pop up in your camera roll in the Camera app or Photos app.
Wanna have fun with this new feature?
Grab a friends iPhone and take a screen grab of their home screen. Open the image and leave the iPhone on the victim's friend's desk. Next time they try to use their iPhone, they'll be perplexed that the buttons don't seem to work. Eventually, the menu for images will pop-up and you'll all have a good laugh. Hopefully.