I did this update this morning and when my phone rebooted it just rebooted over and over again. Removing the battery would shut off the phone however when I put it back in and turned the phone on again it would still reboot over and over again. I had to follow the procedure below to fix it, which was pretty much a hard reset. My wife had no issues doing the update. Just wanted to share.
How to hard reset the HTC EVO 4G
We show you how to factory reset the HTC EVO 4G to clear all data and restore its original settings
The HTC EVO 4G is highly customizable and you have been hard at work tweaking it to your liking, but now the fun is over and you want to return it to its factory settings again. Here, we show you how to hard reset the HTC EVO 4G with step by step instructions.
Please note that all data will be deleted from the HTC EVO 4G as a result of this procedure. This process does NOT delete data stored on the microSD card. We recommend backing up all of your personal data before proceeding.
Turn the power off.
If your HTC EVO 4G is frozen, pull the battery out and reinsert it
Hold the Volume Down button
Press and release the Power button
You are now presented with a menu that allows for Fastbook, Recovery, Clear Storage, and Simlock
Select Clear Storage by pressing the Volume Down button
Press and release the Power button
Now simply confirm your decision: Volume Up for YES and Volume Down for NO
If you selected YES, all data including third-party applications will be deleted from the HTC EVO 4G. Once the wipe is complete, the phone will reboot to its factory fresh state.