on schedule. It's reportedly a 5 minute download, but that's all the info we've got until Apple gets official about it. Let us know if it works for you.
[Thanks to everyone who sent this in]
Update: Looks like plenty of people are having luck with the update, so good on them. No word on how this will affect your hacked Apple TV yet, so you might want to hold off until braver souls sort it all out.