You will never lose your "apps", because they are tied to your MS account. If you prefer to flash a ROM to your device or buy a new device, you simply have to download your apps again (app settings/data e.g. game scores are gone then). But in this case, you will get an over-the-air update, which keeps all your data.
So if i update ota. It sudnt require me to download the apps i have purchased right? You know how costly windows apps are. I have bought tons of them. I am not talking about settings. Also i would like to know
1. How much space i need on my phone to do the update.
2. Will i be able to do the update via my 3g, i dont see any reason why MS has this stupid restrictions in place of waiting for wifi.
3. My phone dislikes my high speed sd card. Will that be fixed as well ?