Share your experience!
Screenshot feature has been disabled..
Longpress of menu key now no longer opens search option..
Missedcalls and Messages notification light has been disabled..
Still lags a default file manager as provided by samsung..
Constant eatenup RAM..
Increased boot time..
Facelock feature needs improvement..
Resizing of widgets is still not possible..
The new picture gallery widget disappears after a boot and has to be removed and again installed..
Overall speed of the phone has degraded.. though that was much expected..
Camera interface has become classy , but now lags ease of use..
Screenshot = press and hold power button and volume down button at the same time 
Backup everything as it will erase all data on phone
Update/Repair your phone via PCC OR SUS
PCC (PC COMPANION) – Repair your software with this .First do the setup without connecting your mobile to pc.(only connect when you are asked to).
Do it as follow >> PCC > SUPPORT ZONE> SOFTWARE UPDATE> REPAIR SOFTWARE (written with blue)
PC Companion http://www.sonymobile.com/global-en/tools/pc-companion/
SUS ( Sony Update Service) ... download and install it on pc and follow the on-screen instructions http://www-support-downloads.sonymobile.com/Software%20Downloads/Update_Service_Setup-2.11.12.5.exe
or
http://www.sonymobile.com/global-en/tools/update-service/
Both the links are same
Why is not the screenshot option displayed when I just long press the Power key ...
The way to capture it has been changed , are you able to do the job now ?
Nops... As i longpress the power key it goes to a pop up menu and simultaneously pressing the volume down key takes it to vibrate mode or silent mode... i.e it performs either of the two functions of both the keys.
Repairing the software wud delete my Apps and all ??
Yes it will delete all apps and sms , contacts etc
You have to press both the keys at the same time .... exactly at the same time and keep holding them there until you take a screenshot
I got the screen shot 
But still the notification light that blinked green after a missed call or a new unread msg is not working, it works at the time of charging, incoming calls but not at the time of new msg or missed call.
Secondly i observed that there is sometimes a blue notification light while downloading an app or its data.. is that an adition ??? Is there any way that notification LED can work just as in Blackberry phones... ???
Long press of search key still doesnt opens search popup... why so ?? has it been disabled in ICS ?? 
yes it has been removed..... you could use the google toolbar for same task
Led are working fine in my Arc S
, might be the case with Neo V