Apple on Wednesday dished out the first external betas of iOS 4.2, which will deliver multi-tasking, folders and threaded mail. However, AppleInsider has also discovered a handful of more subtle refinements:

• iOS 4.2 for the iPhone will debut a new icon for Apple's Voice Memos application, a new version of modem firmware, and some new font additions for the Notes application. It will also add support for importing .ics files directly as a way to add events to the native Calendar application.
• Multi-tasking on iPad
• 20-app Folders
• New Spotlight Search preference pane under the General Settings panel
• Allowing or disallowing Multiplayer Games through Game Center, iOS 4.2 for iPad will enable users to allow or disallow changes to Location settings and Mail Account settings.
• A new setting in iOS 4.2 for iPad 3G allows users to disable 3G and revert to EDGE, trading speed for battery life.
• heck Spelling and Larger Fonts functions
• Apple has added a Notes preference pane
• Wireless printing service – AirPrint
• Access to Game Center
• New Orientation Lock and Brightness Controls
• AirPlay, formerly AirTunes
• iAd interactive advertisements will also begin appearing in iPad applications