Today I upgraded my note 4 to Lollipop and I have been very pleased with it so far as I can testify it works flawless. I preformed this OTA on the Verizon network, the first upgrade was unsuccessful so I punched the button again and all went well. I think it took about 20-30 min for the entire update. All I did to prepare was backup and factory reset plus I made sure to update all apps..I really wasn't sure about this update after reading all the negative comments and kitkat was working just fine. Most reviews were on the negative side,however there were a minority of ones that worked..
After the update I can say everything works and the phone is much more responsive, battery life was good before the update,however after the update, battery life is much improved. I charged it about 1 am and at 11am it was at 99% that's with the phone left on all night with a whole bunch stuff running in the background.. Before the update under roughly the same conditions it would be about 96-97%..IMHO, I prefer this over the old system, plus I now have HD calling!!
Disclaimer: I do not work for Verizon or Samsung and Iam just a user of the Galaxy note 4!!