Just reporting a smooth, quick update. I have a 1.1.2 OOTB, jailbroken, and using 3Gpp Nextsim to get the phone part to function. Did the upgrade and jailbreak from the Dev team, timed it at 30 minutes from start to finish. Just left it alone and watched TV. No user input was required.

Nextsim still working? YES
Google mps working? YES, but no locate. Just spins endlessly.
Multiple SMS working? YES
Jiggly icons able to move anywhere? YES
Previously installed apps still installed? YES and NO.

When I went to installer and looked under uninstall, they all showed as still being there, but on the home screens they are missing so I went through manually and uninstalled them all, then reinstalled. All works good but NES rom games no longer work. Apparently location for rom files has changed and I cant yet figure out how to get them where they are suppose to be.