Guys, just an update on security hole found on firmware 2.0 and above. If you're the one that always enter a pin code every time you turn on or Slide To Unlock, you might think that it's secure and if someone steals your phone then they're not gonna get anything out of it but that's gonna change.
Here's how the flaw works:
1)Slide To Unlock
2)When in keypad, tap on Emergency Call
3)Double click the Home button
If you set your iPhone to Favorites every time you double click the Home button, then you're gonna get to Favorites bypassing the need of entering a code. Some of your contacts information might have phone number, location address, e-mail address, website link and so on. So when you tap on one of the them, iPhone will launch the specific application, again bypassing the need of entering a code and potentially dangerous if unknown people knows your private information.
Hopefully firmware 2.1 update will have to fix this flaw as it might hurt the enterprise feature and users privacy, but for now just set your Double Click options to either Home or iPod. So when you're on Emergency Call and you double click the Home button, you're not getting in to any menus. Take the greatest care of your iPhone!