Have just spoken to o2 about this issue and would encourage all to do the same, to put pressure on them to approve the new software. I have spoken to Nokia who say that if your provider has not approved the new software then you should ask for the phone to be replaced as "it might work better"?
They (o2) say they approve updates about every 3 months, with the last one being Nov for the N96, so expect a new update by March if you can wait that long. In my experience Nokia consistently release new phones before they are ready, I had hoped that this wouldn't be the case this time. The last time I had a Nokia phone work out of the box it didn't start with an "N" may be there is a lesson there.
So o2 wake up to the problem, pull your finger out and approve the new software now.
Then maybe the phone will live up to its hype! and your call centres will be less busy!