While the update is being released at 0200 PT not everyone will receive it immediately. It can take up to four hours for a user to be prompted to receive this update, so please be patient. There is no way to speed up the process, every Xbox 360 will receive the prompt to upgrade sometime between 0200 and 0600 (or the next time you sign in to Xbox Live.)
This is a long time coming, especially if you're staring at a download screen right now. Early risers (or late risers, depending on your time zone) please report your experience. Incidentally, the Major mentioned my "things to do while waiting for the update" post in his latest podcast, despite the ton of crap it received in the comments.