1.1.4, it has a higher max volume, a few bug fixes, and Safari works better with multiple tabs. When you first JB, install Cydia packager, fake bsd, and whatever you do NEVER install BSD. Cydia is a Debain APT package manager, like installer but better. Whats nice also is when scrolling through packages it has the a-z bar at the side to allow for fast scrolling with out swiping your finger across the screen for half an hour.
If you are worried about BSD subsystem and apps that need it, dont, because this has something better and newer. There arent many sources, yet. SkylarEC is going to convert the ipodtouchfans repo to work with Cydia this weekend.
Edit:
Here is a link to how to install.
Edit2: Cydia moves your apps and fonts when installing, so you dont need to use bosstool.