Updating 1st Gen iPhone

[Atrocity79]

I have some questions about updating the 1st Gen iPhone.

If I upgrade the 1st Gen iPhone will I lose ANY data such as music, pictures, or contacts? If so, how do I back them up?

Does it cost anything to upgrade to v2.0.1? I know when connecting an iPod Touch to iTunes it displays a charge to upgrade.

What are some of the pros/cons of upgrading to v2.0.1?

[TheMBC]

If I upgrade the 1st Gen iPhone will I lose ANY data such as music, pictures, or contacts?
Depends are you on 1.1.x or 2.0? 1.1.x to 2.0.x will cause an entire restore, yes. You can back that up through the iTunes backup. Some people say it's better if you have a fresh install.

Does it cost anything to upgrade to v2.0.1?
No, although I don't understand why iPod touch users even have to pay, iPhone users seem to be exempt from that because of the monthly fee they already pay...

What are some of the pros/cons of upgrading to v2.0.1?
Once again, are you on 1.1.4 or 2.0? From 1.1.4 there's the 3rd party apps, which is the biggest thing. And from 2.0, the OS is a lot smoother and nicer, they really worked out a lot of bugs.