Steve job announced iOS 4.1 and 4.2 . The first one coming in a week and the other one coming in November. The current iOS with have some added features which include a Game Centre and HDR photo capturing capability. However the iOS 4.1 will not be available for iPad. The Multitasking for iPad will come with 4.2 in november.
The HDR capability will offer taking great pictures with your iPhone.