As everyone was waiting for Android 2.1 to drop Google Maps dropped 4.1.0. The Maps update is much appreciated. The UI needed some Bling and it git it.
One needs to think about what will happen with GPS sales this summer. With 2 Million plus Android Phones being sold since 2009 holidays that many fewer GPS units will be sold. Combined with other smartphones that can run Maps Apps the number must increase into the 10's of millions of users who no longer need GPS in there cars. As for hand held GPS for hiking and the like probably won't be affected. Most phones with Navigation use too much battery for long or multiday hikes.
With the newly worked Google Maps for mobile search results page, Google did away with the tabs to give us all the info users want on one page. Tap the new buttons to see the place on the map, get directions, call it, or see it with Street View.
When you update to Maps 4.1, you’ll also have a couple different ways to put Maps up close and personal on your phone. Wouldn’t it be nice if you could quickly find your nearest friends or glance at the traffic conditions around you without opening Maps? Add the Latitude widget to a home screen panel to see your nearest Latitude friends by pressing the “Menu” button from the home screen and selecting Add > Widgets > Latitude. On Android 2.1+ phones, you can also turn your home screen into one big, updating map using the Maps live wallpaper. Press the “Menu” button from your home screen and select Wallpaper > Live wallpapers > Maps. Now you can see nearby friends or a map each time you open your home screen.
If you have multiple accounts, Maps now lets you switch the Google Account it uses between the accounts you’ve synced to your Android-powered phone. From the Maps menu, select More > Switch Account to sign out of your current account and sign in to a different one. Features like Google Buzz, Latitude, Starred items, My Maps, and more can then begin using whichever account you’ve chosen.
If the update hasn't come to your Droid or Android Phone go to Market Place>Menu>Downloads and all the updates available for your phone should be their.
Source: Google Mobile Blog