This is not a big problem, because the fix can be forsed through its update system, like microsoft doing it. Similiar vulnerability for Symbian OS is a big thing, because almost no one updates their phone's firmware. =)
Nope, the iPhone doesn't support over-the-air updates. Apple can patch it in the next version of the OS, but no one's gonna get the update without a computer.
Thank you for providing this information. So, it would be something like "new high-optimized, dramatically improved, much faster build of the OS 3.0".