On Orange UK (EE) and I'm downloading this update now too. I'll edit this post for what I find.
Okay the actual install process took about 15 mins.. that's from pressing the 'install' button and there's about 10 mins of spinning gears for me. Then the data migrates and after you get the confirmation message of a successful install you need to restart your phone. The OS details after this update are:
OS Version: 8.0.10211.204
Firmware revision number: 1232.59.57.1308.0020
Radio software version: 1.0.202093.3
I'll post in some screenshots soon about the storage check. There's a cool 'in progress' circular animation when the phone is checking its storage.
On the left is the storage details on my 920 before I applied the storage check. On the right is the freed up space after the storage was cleared. Freed up 4 GB!
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As far as the camera improvements go here's a quick test I did. The first image was taken indoors with good light of a stick of RAM on my desk using the 1249 firmware.
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The second image above was taken just now on the 1308 firmware. Both pictures were taken in the same lighting conditions and using the same settings on the phone's camera itself. The second image is a lot sharper and picks up some detail the previous image doesn't pick up on as well as the colour being slightly more accurate of the desk and RAM.