We basically split out the new features and fixes you saw in 1Password Pro for each individual version. So for the iPhone, you get better iPhone 5 support and bug fixes, but also a new trick: when you generate a new password, it is automatically copied to your clipboard.
For iPad, you have improved VoiceOver support, bug fixes, and a new Generated Passwords section. As long as you generate passwords on Mac, Windows, or iPhone, and sync your data file with your iPad, you can view passwords you’ve generated on those platforms.
These free updates are now live in the store, so go grab em!