I've had the .902 update for three days. The data is much more stable and just works better overall with few if any data drops. Reception seems improved too. Wifi and bluetooth are improved. The phone is more stable. I have had no BSODs or force closes of any kind so far. The phone is faster. You can really zip from screen to screen. My Bionic performs the way I wish it did from the start. I think Motorola got it right this time.
I have not noticed any change in battery life. I suspect those that had the worst problems with data switching back and forth will see some improved battery life, in part, because the data connection is so much stable. For the rest of us, I don't know how much difference it will make. It shouldn't hurt though!