Earlier quoted context omitted.
He's talking about 4.3 now. No apparent huge updates, but things like making the mute/rotation lock switch a preference will be appreciated. Improved AirPlay support (can work with websites now), shared hotspot on iPhone, etc etc. Probably the biggest news for this crowd is Safari's JS boost with the Nitro Javascript Engine.
I really want to be able to do a timed mute on my iPhone. I keep on putting my phone on mute to see a movie, then my girlfriend is mad at me the next morning because I don't answer the phone.
This would actually create an interesting problem. If you have a hardware switch and a software timer, then the switch is going to be wrong sometimes.