I found this out last night when I happened to use wifi for something (I virtually never use wifi), and it automatically downloaded the update (since Bullitt doesn't give you an option).
I have not allowed it to install yet. It's possible it may auto-install if I were to reboot my phone, I don't know. I was trying to hold off until I saw feedback on here or XDA about the update... but now it seems I cannot download my podcasts. Downloads that would ordinarily take a minute or two are spinning forever. So I don't know if that's a "baked in" effect of not applying the update, or not.
I was hoping someone on XDA would figure out how to root the phone... I'm sure that this update disables whatever available loop holes have become known since the last update. I wish it was going to fix the camera, but there's no mention of camera improvement, since they broke it two updates ago.