I just bought a 1200 last Sunday (299.99 new in box) and updated the firmware yesterday. Unfortunately, I can't get Live Free or Die Hard to play at all. My symptoms match Paul's at the top of this thread.
I don't mind updating the firmware, but when the firmware lags behind the high-profile new titles, the schedule could stand some improvement. I do agree that the regular consumer is not going to want to update firmware every time a blockbuster title appears.... I guess now we wait. I'll have to be watching my 30-day-return window carefully as well. I really like the P1200 upconvert performance on SD, and the HD stuff I've seen looks stunning. I'd like to keep it if Samsung can address these issues in a timely manner.
On a related note, I saw some skips and stutters tonight when I watched part of the SD of "The Matrix." I hadn't watched that title before the firmware update, so I can't pin the blame on the version 2 firmware, but the problem is mildly annoying even though the PQ on the upconvert looks great.