The update fixed the GPS issue on my Nexus 7. I've taken it for a couple drives with no problems. However, I did not have any touchscreen issues before the update, and now I have huge issues! It seems to happen mostly in landscape mode when the whole left side of the screen is practically "dead." It's not completely dead, as it will register a touch if I keep tapping, but it's pretty useless. Strangely, if I rotate to portrait mode, the touchscreen usually operates fine.
Very frustrating.