I am waiting a few days to see what happens in the jailbroken world and whether there are any problems reported by people that have updated. If they can jailbreak 1.1.3 then I will definitely be updating. I do not have problems with buggy unreliable 3rd party apps (research them before you install them and you won't have this problem) and the ones I do run are running great and something I have become accustomed to having on my phone.
Most of the third party apps I use (NES, SMB, Customize, iPhysics...) work fine. I also enjoy the cosmetic benefits of a jailbroken iPhone. And, the new software update doesn't really do much for me. I usually know where I am (lol) so I don't need pseudo-gps. SMSD takes care of multiple texts, and Customize allows me to move my icons as I wish. I'll wait till a 1.1.3 jailbreak (that doesn't require an MIT degree) and/or if the SDK release in Feb. offers some cool apps...
i already did it and here's why:
-i haven't modded only because of sheer laziness(i'm not against modding)
-i know that eventually people will figure out how to jailbreak the new update(Apple can't stop the people)