We announced earlier today that iOS 4.3 is now available to download. Among many of the new features highlighted by Steve Jobs and company during the iPad 2 announcement last week, was iTunes Home Sharing.

This will give you the ability to stream music from your iTunes library, to any iDevice in range of your WiFi. This is different than Remote, an iOS application by Apple, that lets you control iTunes playback on your computer with your iPhone. So what’s the advantage of iTunes Home Sharing? That’s easy….

Let’s say you have a nice home theater setup with an iPhone hookup. Home Sharing will allow you to stream ALL of your music from iTunes to your iPhone, which would then play through your home theatre. Instead of being limited to the 16GB or 32GB, you have access to all of your music.

It’s even super easy to setup. When in iTunes, click the ‘advanced’ tab at the top, and you will see the option to turn home sharing on. From your iPhone, you just go to your ‘Settings’ app, and select iPod. With the 4.3 update, you should now be able to turn on Home Sharing.

Has anyone upgraded to 4.3 and are enjoying the new Home Sharing feature? Are you jailbroken, and considering upgrading anyways? Tell us below!