Looks like there is a version 2.1 of the firmware available now for the iPhone - and I am installing it.
The old version was v2.0.2.
I am keeping my fingers crossed that this update does not leave me with corrupted applications that randomly cause the iPhone to freeze up (which is what happened during my last update to v2.0.2).
The new update is almost 240mb in size
Update.... and success.. the phone is up and running with version 2.1 of the firmware. Now to check if all the apps still work correctly.