There is no ETA on the update. However, I assume that it will come soon because of the holidays. The update will add Netflix and Hulu Plus, as well as many new reading features. The BN stores around me already have a beta of the update loaded on one of the colors, please ask the rep. if the same holds true for them.
The update is 1.4, not 4.1 and IMO there are WAY too many "when's it coming" messages here.
It will arrive when it arrives. No sooner.
Waiting for the list of what they broke in this update to appear ....