Well, I did the update. Took about an hour from start to finish. At this point in time, I have no idea if I will run into the type of problems I've seen many write about here in the forum. We'll see soon enough in the next few hours and over the next few days. Based on my readings here, I made several pre-update preparations:
1) Made sure my battery was fully charged, then kept the charger on, not sure how long the process would take.
2) Made sure I had maximum 3G bars, which is most of the time for me, anyway.
3) Changed my Live Wallpaper back to the Razr default wallpaper.
4) Cleared phone cache according to instructions found here in the forum.
Once, I was ready to begin, I began the download, which took about 20-30 minutes. Then the install. I let the update do its thing without interefence from me. When it was complete, and I received the "update successful" message, the phone was in process of installing other app updates. So far, things look good. Widgets on the home page work fine. Texting works fine. Facebook works fine. There is still other tests to make which will be done in the course of the next few hours or so. I'll update my report here, if I can do that.
Just wanted to post a positive report as I've seen so many negative ones. I'm hopeful it will remain so.