So, I was finally forced to "upgrade", so thought I'd report in.
After deferring the update every day for a few weeks, I got the first part of the upgrade (the upgrade to KitKat) inadvertently a couple of weeks ago (long story not worth bothering with). Fortunately, at that time, the phone gave me the option of deferring the Lillipop update, which I did. The phone did not prompt me for this further update unless I power cycled the phone, but it continued to offer the deferral option. I noticed no real differences in my phone, so simply chose not to take the next step, knowing from past experience that Verizon/the software would likely force the issue at some future time. Sure enough, on my way to work one day last week, it self-initiated. But, it hung up at 62%; stayed that way for several hours. I closed down the update and thought/hoped-against-hope I might be in the clear. However, by the end of the day I realized that, while I had gotten none of the obvious Lollipop features, I had been cursed with the battery issues: it dropped from 85% to 7% in about 4.5 hours while I was at my office, and charging was excruciatingly slow; charging in my car while using Waze on my commute home was laughable (about 5% in 1.5 hours, whereas it would normally have been fully charged in about half that time.)
So, that night I decided to bite the bullet. I went back to all the postings I'd read and decided to make it the cleanest install possible. I backed up all data manually (never had much luck with the auto-back-ups and auto-restores) then did a FDR before the install. I then downloaded and installed the Lollipop update. I did this OTA with WiFi on because I was having trouble getting the interface to work properly when connected to my computer. It went smoothly. I then did a second FDR (at the recommendation of several people). At that point I was down to about 40% charge, so decided to do just the basic set-up and go to bed to let it fully charge.
In the morning, it was up to 100% (after sitting on my TyltVu wireless charger for about 5 hours), and I continued my set-up, reinstalling some basic data: ringtones, some pics, a little music; and I continued setting up my email and other basic functions and apps. Initially, I only downloaded necessary apps to see how the phone would handle it, and it did just fine, so I downloaded the remainder - manually - over the next couple of days.
I have had relatively few issues with the upgrade, much to my surprise and relief. I had some issues with the LED notifications at first, but re-installed Lite Flow Lite (which I've used for years) and that solved it for me. Also had some GPS issues when I first opened Waze, but a power cycle seemed to take care of this, and I don't find that I'm having any greater GPS difficulty on Lollipop than I did on KitKat (for me, GPS issues have been one of the few bugaboos about the G2 from the beginning). For the most part, most - but not all - functions and apps seem to be working mostly properly.
That is not to say, mind you, that I'm happy at all about the "upgrade" or that everything is working. First off, while it does seem that my battery/charging issues are less severe than most, there are still issues. I'm guessing that my battery is discharging about 15-20% faster than it did before the update, and charging about 20-25% slower via wireless (haven't really checked wired charging yet); it's charging closer to 30-35% slower on car charger. But, it's nothing like the experience the day before I finally broke down and did the full install, and it seems much better than others are reporting. Still not happy, but feel fortunate that it's not worse.
I have a few pet peeves about Lollipop, and the biggest is that I cannot seem to find any way to get a weather widget on the Lockscreen. I found a way to have my weather app constantly run a notification, which appears on the Lockscreen; but I really liked my old combination weather and clock widget. Also miss being able to swipe to other widgets from the lock screen; especially my flashlight widget; can't seem to find a way to make this work, either. Also, the replacement for Quiet Time with the "priority/Interruption" thing is a train wreck; not intuitive at all. But, once I figured it out it seems to be functioning properly ... I think. The one thing that is absolutely broken for me is Daydream (which I have historically paired with Quiet Time in using my phone as a bed-side alarm clock); it's not working at all. I've tried setting it up to run when docked, when charging and either (as I used to), and it did not work at all.
On perhaps a less "substantive" level, I have to say that I absolutely HATE the look of Lillipop; not only the iOS-looking "theme", but how much of my notification shade is now taken up with crap. And I think it was particularly foolish to change the home icon to a circle from the little house-shaped pentagon (how intuitive is that?), but I guess I can get used to that. The only thing that is better, in my opinion, is that the touch buttons are more customizable.
So, anyway, that's my experience. I don't know if it will help anyone else, but if anyone is reading this and thinking of installing Lollipop, I recommend doing a FDR before and after. I don't know if this was the "magic bullet" for me or not, but others have also reported that it seemed to help.
Best of luck, everyone.