well mine still doesn't work. i tried your suggestion of the network setting reset - didn't do a thing.
Also just validate i tried both wifi and EDGE. Symptoms as follows:
EDGE: Just states "Connecting...." forever
WIFI: States "Checking for Mail...." forever
I deleted and re-added the account. It confirms that "Exchange account verified". so here is what i have concluded:
1. my account is fine. worked yesterday pre-iphone patch and now doesn't work.
2. it is not an edge only problem, since wifi doesn't work at all.
3. i've tried both imap4 and exchange and neither works.
so now how do i undo the update? If i restore will the update go away?