The iOS 4.3.2 update and 4.2.7 update are out.
You can obtain the proper update by opening iTunes and plugging in your iOS device. You will be presented with a window similar to the one above.
The 4.2.7 update for CDMA devices contains improvements and other bug fixes, including the latest security fixes.
The 4.3.2 update for GSM and other iPad, iPhone, etc. devices. According to Apple, the update has the following improvements and other bug fixes including:
• Fixes an occasional graphics glitch on iPod touch (4th generation)
• Resolves bugs related to activating and connecting to some cellular networks
• Fixes image flicker when using Apple Digital AV Adapter with some TVs
• Resolves an issue authenticating with some enterprise web services
Products compatible with this software update:
• iPhone 4 (GSM model)
• iPhone 3GS
• iPad 2
• iPod touch (4th generation)
• iPod touch (3rd generation)
This update contains security content originally included in previous iOS Software Updates.