^^Check your FW version in Settings > About Product
Should say 20.xx, etc.

Here's my update story, to hopefully allay fears a little bit..
I had 1.2 and my only conflicting packages were the modified hildon desktop (smoother scrolling) and I think healthcheck (like others).

Thanks to Saturn, I unpinned the modded desktop ( http://talk.maemo.org/showpost.php?p...&postcount=231 ) and proceeded to install via wifi (in the US btw.) I did it with fappman and it took ~20-30 minutes total to download and install all. It didn't ask me to reboot and I checked the settings, which said 10.xx still. Rebooted and it came up with 20.xx.

As far as oc'ing, I had multiboot with not only titan's kernel but nitroid as well. Still booted up to the option screen like normal and I assume Android is working fine (trying out the new maemo before that.) OC'ing is steady at 750mhz now and phone seems to be running just fine.

Apps- It didn't delete any of my apps. Everything is still right there just as it was before the update. My settings were untouched too as swappolube still had all the current values stored in there. So basically nothing surface-wise happened at all. All widgets are up and everything is good.

Changes- Haven't noticed much yet. Email is a tad quicker. Phone seems maybe just a tad more responsive. I personally didn't notice portrait to landscape transition to be any quicker than before. Browser seems a tad quicker in rendering and all that.

Problems- none so far. Hopefully it stays that way. All my stuff seems to be untouched so I'm pretty happy. Can't wait now for the apps to roll it with the QT framework. Wondering as well if the promised dualboot feature is in this update.