Mine and is installed and appears to be working fine.
I did run into a few little... anomalies.
They don't say anything about uninstalling the previous Kobo desktop application. I finally did so, and then installed the new software. When I clicked on the icon, I expected some instructions to be forthcoming, but nothing appeared. It was at this point that I plugged in the Kobo and suddenly the installation instructions appeared automatically.
I'm running Windows XP and so I got the "installing new hardware" screens. This took a l-o-n-g time. One other phase of the installation also took a lengthy period of time -- I think it was when transferring the software to the Kobo -- but at least there was a bar showing progress and a countdown timer.
At one stage, one is instructed to hold three buttons down simultaneously, at which point the red light is supposed to come on and the screen clears. Which they did, but I had to hit the "try again" button to proceed to the next stage.
At a later stage, the instructions say to reset the Kobo by inserting a paperclip in a hole in the back of the case. My first paperclip was too fat, but I did manage to find a skinnier one.
The final instruction says to disconnect the Kobo and wait for the reboot to take place. The screen says something like "please wait a moment" but the moment was several minutes long.
But all is well that ends well. I've loaded a couple new files and deleted several old ones using Calibre and I'm now charging the battery (with the red light on).
Hope this will be of some help to others tackling the upgrade.
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