I must say I'm unimpressed with the process of updating the iPhone this time. At one point my phone thought it didn't have the SIM card in it, but a restart of iTunes and a connection of the iPhone back to iTunes was all it took.
After that, I spent some time getting my WiFi password back onto my phone, as well as fixing the voicemail password. On the latter, it acted as if I'd never set one up. Maybe I didn't, as I almost never use it anyway, but I probably wasted nearly 2 hours "updating" my iPhone, including recovery.
Regarding iTunes on the iPhone, it *would* have been real nice to have iTunes radio stations available for streaming. As far as buying music, I doubt I'll buy any via my phone. I've bought lots over my MacBook, but mostly I don't think I'll do it "on the go".
For me, this update was at best a yawn and at worst an annoyance. It wasted a good amount of my time, a bad thing that.