Worked here
Worked here in Switzerland, but then I did wait until this morning to upgrade. Bugged out on the authorisation until I disconnected the iPhone, entered my pin, and then reconnected it. And yes I got the same language problem, Phone slipped back to german until authorised.
A quick glance through the settings shows no obvious tethering settings, but then I guess that depends on the network provider, and I've seen no statements from Swisscom to either confirm or deny that they'll allow tethering. Not a big problem for me as Zürich is littered with fee wifi hotspots anyway.
I guess the next couple of days will show how many Apps this update has rendered useless.