09:24am PST: Steve Jobs announces new features for the iPhone along with an already known iPhone SDK release in February.

iPhone v1.1.3 features include Google Maps cell tower triangulation called Skyhook Wireless for virtual GPS to pinpoint your general location and give directions to where ever. Skyhook Wireless has driven all around the USA in their vehicles and collected physical location data for triangulation. Google Maps also allows you to drop a pin on any location you'd like to add to memory. SMS now works like email, allowing one SMS to be sent to multiple individuals. You can now add bookmark icons called Webclips to websites on your home screen. You can add up to 9 pages of these Webclips on Springboard. Icons can now be moved around the screen and placed anywhere within the 9 pages of springboard. Lyrics can also now be obtained and placed transparently over album art.

All of the updates are available as a software update for free today.