Well that was quick. Just a few days after the 1.20 patch was posted for download on AVS Forum, Toshiba HD DVD player owners can now download the update directly to their player via the ethernet port. We still don't have an official list of what this fixes, however HDMI connection problems, BTB (blacker than black) & WTW (whiter than white) HDMI clipping, and various freezing/lockup issues are among the problems reportedly sent packing. PC World says you can also get the update from Toshiba's website, however at the moment the link doesn't work. A few new buyers are also reporting their players shipped with the 1.2 firmware.
Now that you can download it over the ethernet port feel free to upgrade without fear, but tell everyone you burnt a CD from a guy on AVS Forum anyway, it makes you sound more hardcore. Some have remarked on how disturbing this trend is, I'm just glad these issues are being resolved, through whatever means necessary. Early adoption is not for the faint of heart, whether it is a car, computer or washing machine, the first few revisions are rarely bug-free.
Update 2.0: The link does work now, thanks cassiusdrow!