A last minute hiccup has surfaced resulting in Apple having to delay the release of iOS 4.2 until November 16th due to a serious WiFi issue. the iOs 4.2 update is originally scheduled to be released today.
The Wifi issues came up with the GM build Apple released on November 1st. Apple may release a second GM build as early as tomorrow to deal with WiFi issues. This will delay the release for at least a week while it is tested, but may not get public release until the following week as it appears Apple will be testing it vigorously. iOS 4.2 should, however, come out before Thanksgiving.
So, stay tuned for this.