Steve Jobs at the Apple event on 09/09/09 in San Francisco announcing the new iPhone OS 3.1.

Steve Jobs made an appearance at Apple's highly anticipated 09/09/09 event today in San Francisco where several new announcements were made, including a new iPod and iPhone OS 3.1 which is now available and ready to download now for free.

All iPhone and iPod users are able to update their operating system to the latest iPhone OS 3.1 software by is here, Apple CEO Steve Jobs was the one who announced the update live on stage at the Yerba Buena Center during the “Rock and Roll” event.

According to comments made at the Apple event, the new OS 3.1 will include bug fixes and some new features such as beefing up the iPhone’s ringtone capability, download over 30,000 ringtones from many major labels from a Ringtones section in the iPhone’s iTunes application, Genius media-recommendation algorithm to iPhone applications.

iTunes will now also begin to offer ringtones for $1.29 and will show up automatically in the iPhone’s settings once you have downloaded them.

Apple shares closed down $1.79 or 1.04 percent at $171.14 on the Nasdaq.