http://www.gearlive.com/gallery/category/C51
It says it will remove all third party apps which is pretty obvious but does iTunes give the option to upgrade or does it do it automatically.
Also since I didn't have my iphone when firmware 1.1.2 came out I have a few questions:
-how long did it take for the jailbrake to come out
-if your 1.1.1 iPhone was jailbroken were able to still use the "phone" part of your iphone if didn't upgrade
-were you able to still sync your iPhone without upgrading?
I would really appreciate it if you could answer these questions.