Hahah
Just went through with the update then restored from my "Clean" Sprite Backup file... everything is in place and working just like before... only with the improved ROM! It works - go update!
I dont know whether its the fact that this is a clean install, but its a LOT faster. The "Programs" screen scrolls smoothly, before I'd have to wait about 10 seconds each time I scrolled for the icons to load in!