Apple posted iPhoto Update v4.0.3 after Pulling Monday's v4.0.2 Update

Late yesterday iPhoto 4.0.3 became available for download via the Software Update preference pane. The Read Me file states:

iPhoto 4.0.3 addresses minor issues with Smart Albums and European books, and provides notification when new versions of iPhoto are available.

iPhoto 4.0.3 is also available as a standalone updater from this Apple web page. According to the web page:

This update addresses several issues with using multiple text rules in Smart Albums and it also eliminates some problems with creating iPhoto books in the German and Dutch languages. Additionally, 4.0.3 keeps users informed about new version of iPhoto that have become available.

The descriptions of what's new are the same as those with iPhoto Update v4.0.2. However, some web sites posted complaints that iPhoto Update v 4.0.2 took a long time to launch and to shut down, occasionally hanging during shutdown. We didn't have those problems and v4.0.3 is not perceptibly faster at launching and shutting down than v.4.0.2. The main difference for us was that in v4.0.3 a dialog box popped up telling us it would take awhile to update our photo files and that afterwards we could not use them with a previous version of iPhoto. This dialog box, common to iPhoto updates, was missing in v4.0.2.