I was just about to buy an iPhone, especially with the new 1.1.1 improvements but w/out the 3rd party apps I am really torn. Has anyone heard news about a nullriver update for 1.1.1?
http://iphone.fiveforty.net/wiki/index.php/Main_Page
That seems to be the best place to look for the latest updates. There is a lot more encrypted stuff in 1.1.1 (mind you, there was encrypted stuff in 1.0, 1.0.1, and 1.0.2, just different, and probably easier as well. They are hard at work on this, and there is an advantage speedwise this time that the community has had 3 months to mature and develop relationships and communication lines. They seem like they are all at once close and far away. Very hard to say. I would strongly expect that as soon as they can jailbreak 1.1.1 the rest--3rd party stuff at least--will come pretty fast. That's total speculation, though.