To be a bit more specific there is an issue with LPCM sources in that the LFE isn't boosted the 10 db that is called for. Given that the OP was replacing a VSX702 I was guessing that, at least at this time, that's not an input he currently has hooked up and has to worry about. For all the rest of the normal sources (in my case regular DVD's, DVD-A's, CD audio and SACD's) there's no issue and it works great. Even if one does have an HD-DVD or Bluray source using LPCM it's not hard to setup another MCACC profile that boosts the LFE the extra 10db and switch to that when needed.
I'm not saying that's in any way a 'fix', just a temporary circumvention. It appears that Pioneer needs more time before more than a handful of service centers have all of the needed equipment and knowledge to apply this recently released firmware update (unfortunately it can't be applied by the end-user/consumer). From what I've observed so far I would guess it would easily be another month before there's a significant number of service centers capable (willing) to do this.