I know I'm a tad bit late, but here is the list of things that apple has updated in 3.1
iPhone OS 3.1 includes these features and updates:
           - Improved syncing for music, movies, TV shows, podcasts, and photos1
 - 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
 - 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
 - Warn when visiting fraudulent websites in Safari (anti-phishing)
 - Improved Exchange calendar syncing and invitation handling
 - Fixes issue that cause some app icons to display incorrectly