I just received the software update!
Anyhow, I've played around with it for a few minutes and made a list of improvements I've found so far:
Menu navigation is 500% faster! (You don't have to wait for the menu to fully load anymore before switching to another)
The menus generally load a lot faster
When changing to a new channel, the status bar at the bottom now has the nifty what's playing next' thing (You can arrow over to it, and go up and down, just like in the channels menu)
Shows scheduled to record are noted in the On Next' screen in the channel list (and now at the info bar at the bottom) to the right of the show title with an open blue circle
It's a lot easer to delete programs now because after you click delete the first time, the yes, delete' option in the next screen is selected by default
There's a new HDTV' menu
There's a new little effect when moving around. The little white arrow has an orange one that moves from behind it in the direction of the desire
Menu's seems to have more of an emphasized fade in' effect
When you push channel + or - in the channel list, It makes a bling' noise
I still don't understand why they can't re-encode the bleeps', blings', and bloops' so I can listen to them while watching something with dolby digital sound.
Overall it's a pretty nice improvement. I understand that the major software updates take a while to test and what not, but at the same time it would be nice to see smaller bug fixes more frequently.
Just in case you're wondering, I didn't automatically receive the software update; I triggered the software update feature from the diagnostics screen.