From the leopard feature set:
Sandboxing
Enjoy a higher level of protection. Sandboxing prevents hackers from hijacking applications to run their own code by making sure applications only do what they’re intended to do. It restricts an application’s file access, network access, and ability to launch other applications. Many Leopard applications — such as Bonjour, Quick Look, and the Spotlight indexer — are sandboxed so hackers can’t exploit them.
Which means that the next iPhone update will definitely close the 1.1.1 “bad TIFF” exploit.

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