I've just installed the update and after 10min of using the device I can confirm:
-The Sense performance has been dramatically improved! All the transitions and effects are fast and smooth (most noticeably when scrolling the home pages), the app drawer and the menus are project butter-like!
-The options for the "recent apps button" are located under Settings/Display, gestures & buttons. NO MORE BLACK BARS in apps and games!!! YEEEY
-The Gallery loads really fast! Even though I have more than 600 photos, the thumbnails pop up instantaneously.
-Ran the youtube player on charge, while having 2 games on pause and the device didnt go 1000C degrees as it use to. ...finally!
-The wake up time has been increased.
-EA Games seems pointless to me. It just shows 5 games to try out and thats it.
-There's a new app called Rescue. (An application used for remote technical support)
-The Browser has a dedivated TABS button on the top right corner.
-Live Wallpapers don't skip frames when moving home screens!!!
-The camera handles white balance much better + pictures taken with flash in dark places are no longer greenish
-With no running apps I get 543MB Used and 433MB free memory!