Well, didn't want to try it, did it, because wasn't confident in disabling the OTA with the instructions shown. So had a couple of glitches, phone got real hot, took battery and SD card out, that solved that problem. Took over 2 hours to download as said by others. Did a couple reboots, cleared phone's Cache, and other than phone getting super hot, that was it.
Now as far as I can tell only problem is I can't access any of my Old S Notes when I import them, many have conflict behind the name. Shows over 140 and all I can get is some of them. When I click on Recent, just get 5 notes, when I hit the All notes button, the app force closes. Tried uninstalling samsung account and reinstalling a couple times, tried clearing app data and cache, nothing works to get access to old notes, just force closes. I can access through S Note Widget a few more, but not all the ones from before. So I guess I have to wait until my other devices get updated to Lollipop. Kind of PO'd about not having access on the phone for those old notes.
Otherwise, does seem okay so far. Have to see tomorrow what happens when I play with it more.