We've got the walkthrough video above, but here's what we think of iPhone Firmware 1.1.3.
The Google Maps location finding is excellent, probably because Apple made sure they programmed in Moscone's data points correctly into their location services. It takes a while to zero in onto your location because it's not GPS, which means it's not really that great for turn-by-turn directions where you need to know whether or not to make a right at the next light.
Multi-recipient SMS is exactly what it sounds like. Pick more than one recipient, send a message, and it gets delivered to everyone. What's nice is that this set of people get saved as a "conversation" so you can send more messages to them without having to type in their names again.
Icon reorganization: same as what we've seen before. Hold down an icon, everything starts shaking, then you can drag stuff around to a new location. Drag an icon to the edge of the screen to get to the next or previous page. Swipe left and right to switch pages.
Webclips also works as advertised, letting you to bookmark a page onto your home screen. There's nothing special about this other than the fact that you can remember a specific part of the page and go to it every time.