I have found some wrinkles in my update to SK12Release2:
I initially purchased a Centon 16GB USB3 (USB2 compatible) thumb drive, which the SK1 would not format. It seems to need a USB2 specific drive (1 GB or greater). No big deal.
After using an 8GB Sandisk Micro USB2 drive with the SK1 for some time (wave files, many setups, etc.) I loaded the new release into the System folder and tried to update to SK12Reaease2 - no go. I had to actually SK1 format a drive, turn off the SK1, load the SK12Release2 files into the System folder on my computer, and then do the update on the SK1.
Note that the update directions warn that the SK1 will indeed be reset, and mine was. Don't count on your settings being the same unless you reload a setup from the USB drive.
All is well with my updates.
