Low Ranked Craig writes: Apple had an event today to show off the next major update to the iPhone OS. iPhone OS 4.0 should arrive this summer (presumably with a new iPhone) for iPhone and iPod Touch, and in the fall for the iPad. According to Apple the update has more than 1,500 new APIs and 100 new features including the sorely missed multitasking. Other highlights include unified inbox, improved security, support for multiple Exchange accounts, application folders, iBooks, and iAd, an advertising framework for developers to put ads in their applications. The official word from Steve on Flash and Java remains a simple "no".