It looks like those having regrets about upgrading their iPhone to the 1.1.2 firmware
now have a means of bringing their prized device back to the comforts of 1.1.1, although the process is apparently not without its faults. According to the instructions recently posted on the Hackintosh forums, you'll first need to snag a copy of the 1.1.1 ipsw firmware file, then you simply follow three relatively easy steps to dial things back to 1.1.1, after which you'll have to follow a couple of additional steps to re-activate the phone itself. On the downside, it appears that IPSF won't work on an iPhone downgraded using these measures, although an update to fix that particular problem certainly doesn't seem to be out of the question. Hit up the read link below for the complete step-by-step details.
[Thanks, Jurgis S]