I received my Apple Earphones with Remote and Mic about a week ago (the standard ones, not the in-ear ones) and they are great.
In terms of compatibility with the iPhone the iPhone supports all of the headphones functionality except for volume control. It is technically possible for Apple to add support for volume functionality down the line but I wouldn’t count on it.
The new material that the headphone cables are made out of seem much more durable. They feel like they use more rubber than the previous ones did and because of that don’t feel like they are going to rip, tear, wear out, etc. as easily as the my old ones did.
Of course they don’t sound much better than the standard iPhone headphones but I’ll be honest I don’t care all that much about sound quality (and even if I did I don’t know if I’d be able to hear the difference). The headphones are great but I sure am hoping that the rubber around the speakers on the earbuds doesn’t start coming off as quick as my last pair of headphones did.