Let's wait until we start getting reports of phones being updated...
What we know if it does happen:
A Prompt will happen to notify the user that an update is available, but it may not be today, as they may stagger the alert. You can check for system updates in the Status section, but I wouldn't recommend keep checking that until we get reports of people having the update.
I don't we will know what this update fixes until we get a change log from VZW by announcement or leak.
Every time I get an email from this thread I keep thinking it's someone saying "I got the update!"