iOS 4.2 might be released on November 16, 2010, so watch out for that date MacLovers.
According to Apple, there are 100+ new features and innovations included on iOS 4.2 and here are some of the features.
iOS 4.2 for iPad Key Features
-switch between applications that are running simultaneously without slowing down or draining the battery
-drag and drop folders for faster access and browsing of applications.
-print mail, photos, web pages, and more directly to a printer on a wireless network.
-stream music, videos and photos from Ipad to an Apple TV wirelessly. You could also stream music to AirPlay speakers including AirPort Express.
Game Center-social gaming
Easily Find Text on web pages
Enhanced enterprise support
Keyboard and Dictionary Enhancement
click here for more info on iOS 4.2 features.