According to the iTunes dialog, 1.1.4 simply contains bug fixes. However it’s much more likely they needed to fine tune things prior to the SDK being released.
It’s a decent one to, weighing in at 165Mb, there’s gotta be some serious changes in 1.1.4, a lot of those no doubt, are under the hood.
I’m installing now, I’ll update this post if I find anything interesting.
1 new feature, the rest just bug fixes.
So there is one new addition in the 1.1.4 firmware – Exchange support. I you go to Settings > Mail > Add new Account, you’ll see there’s 3 options now. IMAP, POP, Exchange.
Note: I haven’t had the opportunity to try this, but given it’s located to the Mail area, I doubt it includes your calendar items.
Other than that 1.1.4 firmware really does just seem like bug fixes. One of my biggest was a date/time issue.
If I opened iTunes, then put the laptop to sleep, then wake it up later and sync again, when I then disconnect the date and time on my iPod Touch are from when I originally launched iTunes. Haven’t seen this since so hopefully it is fixed for good.