To anybody out there that can help pls!

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Im from Toronto Canada and I have had my iphone for 3 weeks its unlocked but i dont know if its software unlocked or software and hardware unlocked, my carrier is rogers.com. i installed itunes 7.4 and took a chance by plugging my iphone happy to say it still kicking.
The software that is available is that compatible with itunes 7.4 or should i downgrade back to 7.3 to use the softeware and with having a canadian carrier does that affect the software available to modify my iphone.
please someone get back to me i would really appreciate it.
or let me know what software is good for me to use in fact where do i begin im new at this and want to learn everything there is to know.