Finished on one phone... very sluggish at first, then picked up after a few minutes, stuff going on in the background I imagine. Must have wiped cache and dalvik, had to reauthorize several apps and relogin to a few services, but all seems good now.
Hmmm.. camera shots going to internal storage instead of microSD card, will need some tweaking!
EDIT: Lots of tweaking it looks like, all contacts became "unlinked" as well, will investigate to see what else needs attention.
EDIT2: Hmmm... No more Power or Sleep profile options, developer section in the settings menu though (thought it might be removed by VZW)