I was hoping so, but no such luck.
After installing the 2.0 update, I tried a fresh network backup from my Retina MBP to my Time Machine volume residing on my iMac. I disabled Spotlight indexing. Both Macs were connected via gigabit Ethernet with wireless disabled.
At 7:19AM, Time Machine started the backup. It showed "Preparing backup..." The TM disk on my iMac was successfully mounted by the MBP.
Logs like the ones below were repeated over and over.
11/9/2012 7:22:16.668 AM mdworker[451]: Unable to talk to lsboxd
11/9/2012 7:22:16.000 AM kernel[0]: Sandbox: sandboxd(452) deny mach-lookup com.apple.coresymbolicationd
11/9/2012 7:22:16.720 AM sandboxd[452]: ([450]) mdworker(450) deny mach-lookup com.apple.ls.boxd
The SparseBundle on the TM volume grew slowly to 820MB until 7:53AM, when the SpareseBundle was successfully mounted, and the log indicated the backup was starting:
11/9/2012 7:53:19.245 AM com.apple.backupd[415]: Backing up to: /Volumes/Time Machine Backups/Backups.backupdb
TM still showed "Preparing backup..." The errors above still continued to flood the log, and nothing was ever written to the mounted volume.
At 8:09AM, I cancelled the backup. TM status never changed from "Preparing backup..."
I manually started the backup again. The log showed that the TM volume and SparseBundle were already mounted, but the TM status never changed from "Looking for backup disk..." Again, nothing was ever written to the mounted volume.
At 9:36AM, I cancelled the backup again and restarted it.
Still, despite indicating that the TM volume and SparseBundle were already mounted, TM just showed "Looking for backup disk..."
I am beyond frustrated.