iOS 4.2 is being released today. The official press release doesn't give a time but The Unofficial Apple Weblog says it is coming at 10 a.m. PST (8 a.m. HST, 11 a.m. MST, 12 p.m. CST, 1 p.m. EST).
I'm glad I have my days off on Mondays! Most of you will probably still be at work. So, I'll be updating my iPad and iPhone and I'll post my thoughts back here after I get to use it a little bit.
Don't forget to update to iTunes 10.1 before installing iOS 4.2.
UPDATE #1: TUAW is also reporting that Apple TV 4.1 is also coming out around the same time as iOS 4.2.
UPDATE #2: I'm downloading the iOS 4.2 update for the iPad. If it tells you the 3.2.2 update is the latest keep trying. Also, "Download only" seemed to work for me. If I tried to "Download and install" then nothing would happen.
UPDATE #3: One thing I learned today: you cannot simultaneously download the iPad and iPhone iOS update on the same computer. You also cannot install iOS while iTunes is downloading another version of the iOS update. Might be here for a while. Also, I'm downloading and installing iOS 4.1 for the Apple TV.