Shortly after its well-received acquisition of popular iPad handwriting app Penultimate, Evernote yesterday announced a substantial update to its own popular universal note taking app. Specifically, the update affects only the iPhone version.

The previous update to Evernote, which was put into action last March, concerned just the iPad version of the app and mainly addressed the imposition of the app’s appearance on the new iPad’s Retina display. This time around, the spotlight is on the iPhone version of Evernote. The Evernote team gives the full particulars of the update in a post on the official Evernote blog, but allow me to give a summary of the more significant details.

Evernote 4.2 offers more accessible note styling options.

Seemingly in keeping with the current fixation among iOS users towards more convenient solutions to text editing, Evernote for iPhone now sports a new and improved note editor for iOS 5. Taking notes with Evernote is made easier with the repositioning of attachment and text styling options to more accessible locations relative to the note editor area.

The update also makes making lists and lists within lists easier with the app’s improved checkbox addition and indentation behavior. A better-looking audio recorder and Photo Stream integration are also included in the update.

Evernote is available in the App Store for free, with additional features such as offline notebook access and PIN security available via in-app premium subscription. Is Evernote your note taking app of choice?