Although the new software update made available February 26th for the iPhone doesn’t seem to do anything new, and even Apple says it was released just to handle “bug fixes,” I think my iPhone actually works better.

Software version 1.1.4 seems to extend battery life – especially when using Wi-Fi – and it seems to improve reception. I notice that in places where I had 3 or 4 “bars” I now have 5, for example.

And while Apple hasn't said exactly what the bug fixes in 1.1.4 are, some who’ve installed the update report it fixes some SMS, Bluetooth, and e-mail errors that were introduced with the previous firmware upgrade, 1.1.3.

Simply plug your iPhone in and hit Update or Restore to download and install the rather large 162MB firmware upgrade. As with all major software updates, back up everything on your iPhone or iPod touch by performing a full sync to your PC or Mac before moving forward.

Let us know what, if any, performance improvements you’ve seen with 1.1.4.