Training was a two week 6.0 beta course taken in 4 1/2 days last year. This is the first time I have had to upgrade one since boot camp in March 2010, and my lab partner & I had the latest version demo already and did not have to do the upgrade in class.
I was able to find out that you copy and paste the key into the "add" applet under licenses. I am still working out where & how to put the upgraded .bin files so I can use the upgrade wizard. My W7 machine is telling me that I do not have rights to write to the IPO Manager folder, even though I am running as Admin. I have tried to change the working directory, but not successfully. Still working on this in my spare time.
Don't ask me my opinion at this stage. I am still in the learning curve.