Answering my own question: I've applied the update, seems to have gone flawlessly.

In my normal routine of timer recording, trimming heads and tails of programs, and burning to DVD-R, I see no difference in operation.

There was no read.me file with the update, so I have no idea what's changed.

The Region 0 (region free) hack still works.

updated 9/18/05

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Liteon has posted new firmware for the 5045, currently 201 for US, EU, UK & TW.

http://www.liteonit.com/DC/english/download.htm

Has anyone tried it yet?

(sorry if I'm reasking an old question...I can't find a reference to this update in the forum)