Testing so far with V2.07c is a mixed bag.
First of all, audio and video sound and look fine, but so far I've not spotted any dramatic improvements in quality. Calibration levels for video are unchanged. I haven't tested audio so precisely just yet, but subjectively, calibration levels for audio also appear to be unchanged and my older ARC setup seems to be working fine with this firmware. NOTE: I re-Uploaded my older ARC results after the V2.07c install "just in case".
The bug where PLIIx-Movie or PLIIx-Music applied to 2.0 input only produces 2.1 speaker output (instead of 5.1 or 7.1) appears to be fixed. It was already fixed for 48KHz 2.0 input in V2.07 (e.g., stereo audio from cable TV boxes), and is now also fixed for 44.1KHz 2.0 input in V2.07c (e.g., stereo from a CD player). You no longer have to switch to a different audio mode and back to get all the speakers properly active.
V2.07c appears to be having more trouble doing a correct HDMI handshake with my PS3. Symptoms include a black screen, or corrupted audio. Switching to a different input and back cures this. Curiously, I'm NOT having such problems with HDMI handshake from my Oppo BDP-83.
The bug where the unusual DTS-HD HR (not MA) 7.1 track from the Dragon Encounters bonus feature on "Sleeping Beauty" Blu-Ray gets seen by the D2v as only 5.1 when Bitstreamed still exists. It may be the D2v is publishing that it can only accept up to 5.1 for DTS-HD HR Bitstreams, even though it can accept up to 7.1 for DTS-HD MA Bitstreams. I've found no workaround to make the full 7.1 Bitstream work. If you set the player, to do the decoding the full 7.1 HDMI LPCM does come over correctly.
It is still possible for a 7.1 DTS-HD MA Bitstream from the Oppo to be seen by the D2v as only 5.1. THIS problem may be an Oppo bug as it is easily cured by interrupting the audio stream (e.g., Chapter Forward/Chapter Back), and once the 7.1 is properly seen it stays correct thereafter.
The bug where gray scale is messed up (e.g., black levels a little too high) when sending YCbCr 4:2:2 from the Oppo to the D2v is also still there. This is a D2v bug. It appears to be related to the 1360x768p Studio RGB video ouput setting I'm using in the D2v for my Fujitsu plasma, so folks with 720p or 1080p displays may very well not see this. The workaround for me is to use YCbCr 4:4:4 from the Oppo (at 36 bit Deep Color).
The bug where multi-channel HDMI LPCM input gets screwed up if only one channel is active at a time is still there (channels missing or corrupted). Typically this is only going to happen when playing test tones from a calibration disc, so it's not something that affects "normal" content. The workaround is to use HDMI Bitstream when playing those test tones.
The bug where switching to a Component source with a Custom Crop set doesn't actually apply the Custom Crop appears to be fixed. You no longer have to toggle Edges Off/On to get the Video Source Adjust > Crop Input > Custom setting to be applied.
More testing to come.