Preparing iPhone for sale

Sorry if this has been covered already, I searched a few pages and didn't see anything related...I am selling my original iPhone today and have restored it to factory settings and removed my SIM. It is now only enable to make Emergency calls. Does the phone still have the 1.1.4 software on it in this mode? In other words, will the new owner be able to simply pop in their SIM and get it going via iTunes as it is now, or do I need to reinstall anything prior to shipping.
Thanks

When you restored, firmware version 1.1.4 was re-installed, and you selected as a new iPhone or not from your iPhone's backup?
If so, there is nothing else you need to do. The buyer must get a new SIM card from at&t, and will activate the iPhone with iTunes as a new iPhone - assuming the buyer plans on being an at&t subscriber.

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