Currently here is what's listed on my iPhone (General-About):

Version: 1.0.2 (1C28)
Modem Firmware: 03.14.08_G

I used the below instructions to "unlock" my phone, but been using my existing Cingular/AT&T sim card. I really didn't need to "unlock" the phone, I just wanted to activate the phone so I could use my existing sim card (and not start a whole new 2 year contact with AT&T). Based on what I've read in this forum, I'm not positive I actually unlocked the phone since it shows 03.14.08_G...

http://i-hacks.net/?page_id=55

So, I guess my understanding is this. If I try to upgrade to 1.1.1, my iPhone will be bricked, right? I need to either wait for a free version from the Dev Team or purchase from the other provider. Can someone just confirm my thinking?

Thanks for anyone who can respond!!! Just looking for a yes or no answer...

yes your iphone will be bricked if you tried to upgrade to 1.1.1. does your existing sim work in the iphone, ie can you use the phone functions, sms. if you can then youre fine, but if you ever want to upgrade 1.1.1 you must virginize it. use the search function as there are multiple ways to do this.