I am downloading the update right now. I will report later on how the phone is working. I do want to get rid of Carrier IQ so I want this.
By the way, Lookout has an app to check if you have carrier IQ. I downloaded it and it told me I have it. I will check again after the update and report.
EDIT: Update done!
The first change I noticed was that I got the new Market, the one with Apps, books, movies, and music. I never got that one before so now it came with the update. GMail also automatically grabbed my second account (now it notifies me about both). I had never signed up to GMail with my second account, but I did sign up to YouTube with that one. I guess since Google changing it's privacy policy if you sign in to one, you sign in to all.
Apps. It also updated about 25 apps. Almost immediately after I opened the Market, I got notified abut about app updates and wow! It said 25! I have never updated that many ups in one fell swoop. I suppose those are the good developers who keep up with the software updates right away. I like those guys!

About Carrier IQ. I don't have it anymore!!! Whooooo! I downloaded the Carrier IQ detector (in the market) from lookout. I ran it and it said that my devices "DOES NOT have carrier IQ" I'm happy about that. Less crap to crowd the internal storage.
The phone seems to be running faster as much of the updates were lighting fast, even the manual ones. No noticeable change in battery consumption. No lag.
Everything good so far. If anything changes later I'll post again.
Cheers.