The wait is finally over. For those of you that have been waiting for the big update it is finally here. To get the update make sure you update iTunes to 10.5. Once you have done that plug in your device and click check for update and you should be good to go. If you have Mac with OS X Lion make sure you check for an update as well to get all the iCloud features.
Check out Apple's site for all the new features you will receive in the update. Let me know what your favorite one is going to be.
The update is only available for these devices: