The move seems to be pretty seamless, though in order to access the new layout features, I'd have to start from scratch on my template. I'm not doing that yet. I may never do it since I'm attached to my current template and sidebar system and I'm not sure I could get it looking the same way again. I may play a little with a test template but I'm not sure it's worth the trouble of making those changes.
The label feature does work, though, and that's pretty nifty.
The only other blip is that the commenting, which is done via Haloscan, is acting a little funky. However, the last time I checked it was back to normal. I think it was a Haloscan glitch not a Blogger issue.
Please keep me apprised if you notice anything else out of whack.