Hot off the press, here are details of the Windows Phone developer tools January update. This summary comes courtesy of Brandon Watson, Microsoft Developer Experience Developer. Read the full version here on the Windows Phone Developer blog.

This update will allow developers to build apps using some updated assemblies which will ship in the forthcoming Windows Phone OS update. In practical terms, this is the tools update that supports the forthcoming addition of copy and paste, improved app performance and other enhancements for Windows Phone. All apps which are in Windows Phone Marketplace will continue to work on any phone that gets updated to the new version of the OS. Any app built using this new version of the tools will also work on phones that have not been updated to the new OS. (quick links: WPDT update & Visual Studio update – you need them both, and Release Notes).

The new developer tools include updated reference assemblies, a new version of the Windows Phone OS emulator image, and several minor bug fixes. This update also replaces the October 2010 update, including all of the fixes from that patch. If you are building a new machine with a new developer environment, this version of the Windows Phone Developer Tools is all you need.

Download the update here.