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MacRumors published the highlights of the upcoming iPhone OS 3.0

The new iPhone OS 3.0 is available to all registered iPhone developers today as a free beta. Full release to customers will be this summer. OS 3.0 will be free for all iPhone users and a $9.95 upgrade for all iPod touch users. Most features will be available for the first-generation iPhone, although hardware limitations will prevent some features, such as MMS and stereo Bluetooth, from being added to those devices. Meanwhile, Apple also revealed that Bluetooth support can be activated in the 2nd generation iPod Touches.
Highlights of Apple's iPhone OS 3.0 Preview: Copy and Paste, A2DP, MMS, Much More