Really that easy but just for safety make sure you read the release notes first!
http://www.irextechnologies.com/downloads/docs
Provided your current version is 2.95 or higher (2.10 is higher) there should be no extra problems.
2.95 is special - read the instructions really carefully if you need it. There is quite a lot of extra info on the fora.
For safety's sake probably best to remove all external memory (SD/MMC/USB/CF) before updating.
Good luck and have fun.
Tokkeh