iOS 5 Debuts Wednesday, Release Time Likely 1 p.m. EDT

Apple is set to release iOS 5, the company's latest mobile operating system on Wednesday, but the exact time of its release has not been confirmed.

Midnight came and went as many Apple users were disappointed at the no-show of iOS. From Apple's usual release time, however, it's highly possible that iOS will roll out Wednesday at 1 p.m. EDT.

For the next four hours, you may not want to waste your time by constantly hitting the update button on iTunes.

Dubbed a major and incredible release for Apple's mobile operating system, iOS 5 has millions of people around the world eagerly anticipating its imminent release.

With the iPhone 4S rolling out on Oct. 14, users of older iPhones could assess how iOS 5 fares on their devices before grabbing a 4S.

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Compatible with iPhone 3GS, iPhone 4, iPhone 4S, the third and fourth generations of iPod touch, iPad and iPad 2, the iOS 5 upgrade is available for free.

The upgrade comes with a dazzling lineup of 200 new features including the Notification Center, the Newstand, iMessage, Twitter integration and wireless syncing.

The update aims to separate the iDevice from the PC, making it "PC Free." Any iOS 5 device can be operated entirely without a computer, finally turning the iPad into a true netbook contendor.

To install iOS 5 on your current device, simply connect it to Mac or PC and follow a set of instructions in iTunes. Once the update is complete, you won't need to plug it into computers ever again, as iOS 5 is totally device independent.

The iOS 5 comes with 1500 new APIs and 200 new features. Among them are the following updates:

Improved Notifications System - "Scaled beautifully," the new push notifications system is no longer annoying or obtrusive and will be displayed on the lock screen together with stock and weather alerts.

News Stand - Similar to iBooks, News Stand will be dedicated to magazines and newspapers.

Improved Mobile Safari - The mobile Web browser now comes with a tabbed browsing feature even as the Safari Reader allows users to quickly save stories for later reading in the Reading List.

Reminders - The new Reminders app in iOS 5 now makes it possible to maintain multiple lists and save them with dates to alert you. Reminders has geolocation capabilities i.e. it can send reminders to users based on user location.