Just did it!! and I have to say that it was one of the easiest upgrades I ever done.
Long ago, in a galaxy far, far away, Lord Dries did say to Drupallites everywhere, "We will feature freeze Drupal 4.7 in a week, and then we shall commence stabilizing and bug fixing and so on."
And the community said, "BUT WAIT!!"
And so began a flurry of fervent activity to cram all of our desired features and functionality into Drupal. The glorious crowning achievement was the new Forms API, which greatly improved the security, extensibility, and themability of forms.
And the community said, "Let's rock and roll!"
However, all was not good. For soon came the bug reports, the module compatibility issues, and the various forms API-related headaches.
And the community said, "Oh, crap."
