Go to Options>About and it will tell you what the version and platform are.

I just downloaded the update to my Alltel phone, did not delete the vendor.xml file since it's an Alltel phone and OS and had no problems whatsoever (knock on wood). Once I hooked the phone up to the DM, the install took about 5 minutes. I did not have the long waits that people describe above. Could it be that theirs took longer because they weren't installing the update to Alltel phones??