[iPhoneMan33]

I'm pretty certain that 2.0.2 will clear settings and apps, so is there anyway to back up those settings and such.

[Jeckel]

Since you must restore for it to work, it will clear your device, but when you sync it with iTunes, it will bring all of your old settings back on. The only thing you may want to back up (to keep settings) would be 3rd party apps from Cydia.