Well I took the plunge last night and updated to iOS4. Have to say im impressed. Apple have finally pulled their finger out with this one. The phone is a lot more responsive/ snappy, and that is even after a Jailbreak
one thing that is a niggle to me is the so called multi-tasking. When you close an app as you would normally, its not closed. Its still running in the back ground, and you have to double press the home button and end it from there...
Also if you have a radio app playing and want to run that in the back ground while browsing net you cant as the app "suspends" itself or something. so backgrounder is being installed again...
My battery life is totally amazing now as well. I was on 3.0.1 before iOS4 and my battery would drop approx 45% in 24 hours. Its now 24 hours since i installed ios4 on a full charge and my battery is now at 78%

AWESOME!
I also removed a few daemons from the phone as well and some icon shadows from the info provided in the 2 links below. So far then. I am very impressed
Removed any file with shadow in it from:
/System/Library/CoreServices/SpringBoard.app/
for example:
/System/Library/CoreServices/SpringBoard.app/WallpaperIconShadow.png
remove daemons(I removed ALL the safe ones, some conditional and some more):
http://www.ipodtouchfans.com/forums/showthread.php?t=224341
and:
http://www.youtube.com/watch?v=r6usrLQHiWw