iOS 4.2 Public Release Scheduled for November 7th !!

Earlier today Apple has posted a new support document states that Apple support has in fact acknowledged the recent Daylight Saving Time bug which caused half of Europe’s iPhone users to wake up an hour late due to their alarms failing.

Actually, as noted by RazorianFly, the support document included that the issue will be solved on November 7th (i.e. this Sunday). Here's what the document states:
To resolve this behavior for existing alarms, set the repeat interval to Never. You will need to reset these alarms for each day you need them. After November 7th, 2010, you can set your alarms to repeat again.
This may be indicating that iOS 4.2 which fixes the alarm bug, will be released on November 7th, we'll be covering the event there, stay tuned !