@Michael C
"However, 4.2 has several known exploits (just demonstrated this week), and it WILL be patched, but it will not move to 4.3. Apple won't simply add security patches "just because," but if an exploit is DEMONSTRATED, they have promised to close those holes."
Eh?? If an exploit is demonstrated they will patch it? By your own admission, it has been demonstrated already. 4.3 is released and has patched the 3GS and 4. I'm waiting for my 3G to have it's security failures resolved. You let me know when they're planning to meet their promise.
Perhaps I should charitably assume that you meant they're waiting for an exploit to appear in the wild before patching? Brilliant. As an aside, I have a horse in a stable with no means of keeping it there. Fortunately I have a massive padlock waiting to go, just as soon as I see the horse bolt.