It's time to fire up iTunes and click that update button once again folks, because iPhone OS 3.1.3 is now available. No, it's not iPhone OS 3.2, but you will just have to take what you can get at this point.
The update contains only a few improvements and bug fixes, including:
Improves accuracy of reported battery level on iPhone 3GS
Resolves issue where third-party apps would not launch in some instances
Fixes bug that may cause an app to crash when using the Japanese Kana keyboard
That's it.
The update is available for all iPhone and iPod touch models.
As for you jailbreakers and unlockers, do not download and install this update until the iPhone Dev Team says so!
[Thanks to tut00 for the tip!]