The wait is "officially" over. Apple released the iPhone/iPod touch Software 2.0 update. For iPhone users, go ahead, plug your device into iTunes and hit "Check for Update." The update is free. iPod touch users can get the update here, unfortunately it's going to set you back $9.95.

Don't be surprised if it takes a while for the download. Apple's servers are getting hammered. 

With this update there are amazing new features:

-App Store

-Microsoft Exchange

-Mobile Me support

-Better Mail Management

-Contacts Search

-Additional Languages

-Email Attachment Support

-Scientific Calculator