I have been trying to update my phone all day with the new OTA one. I have a phone that is only rooted - no safestrap or custom roms whatsoever. I had frozen the Smart Actions app before, but thawed it out before trying the first time. I have yet to have any success in updating - the phone restarts, the unpacking droid icon pops up with a progress bar, 1/4 into it the picture changes to a ! inside a triangle and the phone boots up, telling me the update failed. I have tried to do it without root (with the rootkeeper app) and with it.
I cannot figure out what exactly is going on - I made sure to keep my phone as stock as possible for the ICS update.