I had to flash mine to PR1.2, because I'm on Vodafone UK and they have a custom version of the OS, so you have to wait for them to release updates (and they haven't even done PR1.1.1 yet)

Still, flashing it was an interesting learning experience, and it was a pleasant surprise that so much of my data (Firefox profile, contacts, SMS/IM history, and more) survived the flashing.

And most importantly, I'm loving the improvements in 1.2!