In what is shaping up to be a giant day for Apple news, one tasty morsel is that OS 3.1.1 is available for download right now for your iPhone and iPod Touch.  Additions include Genius recommendations in the App Store and a ringtones store with over 30,000 ringtones at $1.29 each.

I’m downloading the update right now and these are the new features listed in the update:

• Genius recommendations for applications
• iTunes 9 support: Genius mixes, organize your apps directly in iTunes, improved syncing options for music, movies, TV shows, podcasts, and photos, iTunes U content organization
• Redeem iTunes gift cards, codes and certificates in the App Store
• Display available iTunes account credits in the App Store and iTunes Store
• Browse and download ringtones wirelessly from the iTunes store
• Save video from mail and MMS into Camera Roll
• Option to “save as new clip” when trimming a video on iPhone 3GS
• Better iPhone 3G Wi-Fi performance when Bluetooth is turned on
• Remotely lock iPhone with a passcode via MobileMe
• Use voice control on iPhone 3GS with Bluetooth headsets
• Paste phone numbers into the keypad
• Option to use Home Button to turn on Accessibility features on iPhone 3GS
• Warning when visiting fraudulent websites in Safari (anti-phising)
• Improved Exchange calendar syncing and invitation handling
• Fixes issue that caused some app icons to display incorrectly

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