@Brian: thanks for the info :p
Other feedback on CU1: while I could upgrade several servers in a pre-prod forest (before going in live production later) without any issue (besides some new minor bugs introducted in CU1 :P) I had some issues with my lab where the EWS virtual directory for the Exchange Back End web site was present in AD but not in IIS !!!
Therefore, CU1 B2B upgrade failed miserably.
Workaround: do a "repair" of the EWS virtual directory. Eg from a standard shell on the server:
Add-PSSnapin -Name Microsoft.Exchange.Management.PowerShell.E2010
$BackEndSiteName = "Exchange Back End"
Get-WebServicesVirtualDirectory -Server $env:COMPUTERNAME -ShowBackEndVirtualDirectories -ADPropertiesOnly |? { $_.Name.Contains($BackEndSiteName) } | Remove-WebServicesVirtualDirectory -Confirm:$false
New-WebServicesVirtualDirectory -Server $env:COMPUTERNAME -WebSiteName $BackEndSiteName -Role Mailbox -WindowsAuthentication:$true -WSSecurityAuthentication:$true -GzipLevel High
After recreating the EWS VDir in IIS re-run the Exchange setup in upgrade mode and voila !