Citing an inside source at AT&T, MacStories is reporting that Apple will release iOS 4.2 for the iPhone, iPad, and iPod Touch this coming Friday at 10AM. Also of note is that Apple may also release an update to iTunes and OS X (10.6.5).
Many users expected iOS 4.2 to be available today: iOS 4.2, however, depends on iTunes 10.1 and Mac OS X 10.6.5 for its AirPlay and AirPrint functionalities, respectively. According to our source, 10.6.5 completed the certification stage a few hours ago and iTunes was ready 3 weeks ago — likely after the release of beta 2 to developers.
The update is a long time coming for iPad users who will finally get featues long present on the iPhone, such as folders and multitasking.