so i hear some things on the interweb these days, just got my iphone 2 days ago

1. i know its possible to jailbreak my 1.1.2 Out of the Box iPhone thats all i want to do, are there many risks, do the pros outway the cons
a. will it just be better to downgrade and leave it at 1.1.1.....if possible??

2. will jailbreaking (aka downgrading to 1.1.1 then jailbreaking and leaving OR moving back up to 1.1.2) erase my iPhone?
a. if so, is there an easy way to back it up? i dont want to lose my music/contacts because i am out of town

Alex Muller

- Confused Pedestrian