For all Verizon iphone users… there is not a new operating system for your iphone 4. The new release that is being promoted on Apple’s website (iOS 4.3) is only for AT&T customers to update their phones so that they have the same capabilities as the Verizon iphone 4. Hot spot access and folders for apps are already available.
Further note: In case you plan to use your mobile hotspot for business, be advised that your tethered internet connection will be dropped whenever you get an incoming call because Verizon’s network doesn’t do voice and data at the same time.
I still find the idea of tethering rather compelling since there are so many wifi spots available as back up.