‘iPhone Dev Team‘ released the latest version of their Pwnage Tool yesterday which meant that I could finally upgrade my iPhone 2G to the 2.0 firmware. With the 2.0 firmware comes the biggest addition, the App Store – which allows third party applications developed through the iPhone SDK to run on users phones. Free and paid applications are available and the starting line-up of software is actually rather good.

Thus far, I’ve installed AIM, AOL Radio, Bloomberg News, Bank of America Mobile Banking, Evernote, Facebook, Mobile News by AP, NetNewsWire, Pandora, Remote, Twitterrific, Where, Whrrl and Yelp. In the short time I’ve played around with it, it seems that Bloomberg, Pandora and Remote will be the most useful. Bloomberg’s application offers a better way to interface with their news stories and market data (with support for landscape charting!). Pandora is a user-friendly client for the Pandora online radio service which works wonderfully. Lastly, Remote is an application from Apple that allows one to remotely control their iTunes library or Apple TV from the iPhone.

The firmware itself has been rather stable albeit a bit more sluggish that 1.1.4 but I assume that will be fixed in time. This software update will hold me over until I can buy the iPhone 3G (16GB white, yo).