Today on Microsoft pages it is available to download Windows Phone 7.1.1 Update (recently I was writing about CTP here).
Direct link to download (260 MB): http://www.microsoft.com/download/en/details.aspx?id=29233
Interesting is that there is no requirement connected with uninstalling CTP release – this is not common in .NET world 
This is how it was looking on my machine:
As a short reminder: 7.1.1 allows to detect devices with less memory (256MB RAM). This gives us a chance to reduce calculations / frame rates or something in this kind and prevent memory issues on “256 powered” devices. Additionally we can choose which emulator we want to start (512 MB / 256 MB).
Is that all? NO! Now for all who have installed Windows 8 on their computers – Windows Phone Emulator will work without any problems – it has been fixed in case of Windows 8 issues discovered by users.
Couple more links about 7.1.1:
What’s new: http://msdn.microsoft.com/en-us/library/hh855084(v=vs.92).aspx
Developing apps for 256MB http://msdn.microsoft.com/en-us/library/hh855081(v=vs.92).aspx
Go and get it
