Don't worry. I am updating right now and I have been stuck in the same place for 10 minutes. Hope it doesn't corrupt the download...."iOS 5.1.1 Your software is up to date."
Getting a little pissed here
The same thing just happened to me! hahahaWhat is my luck?! In iTunes, I refreshed and it told me the update was available. I clicked 'Download only', and then it told me the resource couldn't be found! And now it says that 5.1.1 is the latest version... again!
Just got it via iTunes. iPhone 4 in central PA...