Our in-house Apple TV geeks, Megan Lavey and Christina Warren, both installed the updates and gave them a try. Megan indicated the gestures were quick and responsive, and coupled with the ability to use the iPhone/iPod keyboard to search for shows, the new versions made it much less tedious to navigate through your shows.
Boxee users may wish to hold off on updating, however, as it seems that you may not be able to reinstall Boxee after completing the update. Also worth noting is that the new Remote app requires the 3.0 software update to be installed on your iPhone or iPod touch.
Thanks to everyone who sent this in!