The hotspot functionality in the latest beta version of iOS is already usable in Singapore.
A local developer has reported being able to connect his iPad to his iPhone 4 running iOS4.3 beta. He described it as being very fast. Given that the beta software has just been released by Apple, he has yet to test the impact of using the hotspot on his phone's battery life.
This developer also reported that iBooks is broken when it comes to PDFs. The colours on a third of his PDFs are off, he said.
We'll report any other findings as they come in.
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