The Version 2 of WordPress for iPhone brings :

• A new, more efficient user interface that makes it faster to switch between comments(with Gravatars and the author URL), posts, and pages.
• Passwords are now stored in the keychain
• Posts are now automatically saved and restored if network connection is lost during publishing
• Added persistence, so the app re-opens in the blog you last used
• Added an interface for manually entering the XMLRPC endpoint for non-standard setups
• Fixed rotation-related visual glitches
• Fixed edge case where local drafts were sometimes not saved
• Fixed the order of photos so that they’re displayed in the order they’re uploaded

What i like most about this new update is the presence of some interesting features like ‘Keychain storage of passwords’ and the ‘Posts are saved when the App is closed due to some problem’