I'm through with the update process. Took a while. I had to update to itunes 9.2 first. Doing the itunes update also updated Safari, security update and something else. Reboot, then update iphone. Took some time 10 minutes. Wipes out your itunes library so you'll have to reload music. I haven't tried any apps yet or folders for apps. Doesn't appear to be much different other than I now have my start up picture behind my apps instead of a black screen.
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