Why would this be any different than a Microsoft Update? IT IMPROVES ONE THING AND SCREWS UP 12 OTHERS.
Seriously I did not have any issue with the update per se. After it finished all my purchased apps and music and photos were gone off my iphone.
Simply went to the Update section on APP STORE and then saw the apps needed to be gotten from iCloud. Very easy process. Then went to iTunes and retrieved all my music and photos and all works great.
Yes the 47 minutes seemed long, but I am reading here that many others had hours to get the update. Strange
My iPad went in 30 Minutes and it worked correct after the IOS5 update.
Could be your provider, your computer or the computer OS. ( It took longer under Windows XP than it did on my Windows 7 machine 47 Minutes versus 30 Minutes)
I had friends tell me it took a long time for their update, but had no problems since they did not opt for the "In the Cloud" feature.
That could have been the issue also.