Earlier Today , Apple had announced the new iPhone OS3.1 with “the ability to redeem iTunes gift cards, codes, and certificates in the App
Store . iPhone 3.1 also provides the ability to redeem iTunes gift cards, codes, and certificates in the App
Store as well as a way to view iTunes account credits in both the App
Store and in the iTunes
Store.” - Eithiopian Review
The Announcement also stated that , the Apple Store would provide us with The New iPod Nanos and cheap iPod Touches.

And more :

“After AT&T rolls out MMS functionality on September 25, iPhone 3.1 users will have the ability to save videos from both Mail and MMS into the Camera Roll. With the 3.1 update, users will also be able to save a copy of a trimmed video clip without overwriting the original clip.

Other updates include the option to use the Home button on the 3GS to activate Accessibility features as well as various bug fixes. Voice Control is also now accessible via a Bluetooth Handset and you should get better 3G Wi-Fi performance when Bluetooth is turned on. New security features include the ability to remotely lock an iPhone with a passcode using MobileMe and an antiphishing warning when visiting fraudulent Web sites in Safari. Apple also claims users will enjoy improved Exchange calendar syncing and invitation handling.

The new 3.1 OS is available today and is a free upgrade for all iPhone users and iPod touch users with OS 3.0. For touch users who have held off on buying the 3.0 update, your patience has paid off—the latest upgrade now costs only $4.95.”  – Ethiopian Review

Sources : Arstechnica , Ethiopian Review