Smile, Drool and dig in my friends, Froyo is here in a big way for the Original (that's right) the original My Touch 3g, many of us had this phone and it seems almost vintage now compared to what we have today. In reality the phone is not that old, I remember getting the very same phone (white) a year ago in September.
Over The Air is being pushed out by T-Mobile and will continue to do so, and no worries for the Fender Edition the update is coming in a few weeks and will also be OTA, so there will be plenty of Froyo love for everyone. With so many handsets out now, Froyo will be the last stop in updates for the My Touch, but lets face it many devices still don't have 2.2 so I am sure you will be giddy with happiness.
With that being said Flash is not supported, or a hot spot feature, this is because of the Processor yes its decent, but it's not up to par with what we have currently, but you can still let Feathers Fly in Angry Birds and enjoy some great gaming and wonderful Apps even without Flash Support.
So Fist Pumps to the My Touch 3g and T-Mobile because I am pretty sure many thought Froyo would never happen.