On Monday, June 16th Adobe AIR 1.1 was made available for download on the Adobe.com site. To learn more about this dot release you can take a look at this FAQ (PDF);
Items of note:
Matt Chotin has posted an article about developing Flex applications with AIR 1.1
The Flex SDK is including support for AIR 1.1 in the 3.0.2 stable build. You can download it from here.
Adobe AIR 1.1 documentation can be found here.
I find that it is a worthwhile upgrade.