Jailbreak ahoy?
"It's considered possible that the exploit might also allow miscreants to load and run code on the handset"...
Here's hoping. Would be useful to have an exploit like this for jailbreaking purposes. The way 1.1.1 was jailbroken involved a tiff exploit, of course - which was then patched as part of the process. Perhaps this will lead to a similarly easy way to get 3rd party apps onto the phone unofficially. Although, it's probably harder - both for well- and ill-intentioned exploitation - now that applications don't run as root.