I don't think it is necessary to do a system reset before or after the update. It isn't necessary, either, to remove your SD card, or do a recovery cashe clear. I didn't do anything special and my Lollipop upgrade went smoothly and my phone works great. In fact my phone with Lollipop is so snappy and smooth, my Note 3 runs like a newer phone, I would like to call a Note 3.5. Battery life seems better, too.
I have a suspicion that the upgrade was in two parts for a reason. The first part was really just to prepare the phone for the real upgrade, which was the second download. What the first download did may have included the cashe clearing. What else the first download did, I don't know, but nobody, so far, is complaining about any significant upgrading issues. I am glad Verizon took the time to get such a major upgrade done right. It was worth the wait.
In summary, I am finding Lollipop very sweet. In my experience, no other system upgrade, whether IOS or Android, has made such a significant performance improvement in any of my phones or tablets. IMO, nobody should hesitate or worry about doing this upgrade.
Posted via Android Central App