The AutoCorrection OFF toggle-switch is TRUE, but others is FALSE. [/B]
How do I know? There's a post at iPhoneYap.com that discusses all new 2.2 features + screenshots.
Check it out; direct link:
As the article states, these features are not all exposed in the UI:
MacRumors said:Apple has apparently made underlying changes to the iPhone's frameworks that are not yet exposed to the end user.
Also, is iPhoneYap seriously so great? It's in your signature and that's the second time you've linked to it today.