I have seen reports with the HDCP issues with the new device (will probably be addressed officially via an update), but can also be resolved by adding an HDMI switch in the setup (models that bypasses/ignores HDCP communication) but the end-user should not have to do this.
It may just be an unfortunate timing of releasing a new device and a new OS update at the same time that is introducing some bugs/undesired behavior.
I was going to buy the 4850 but was able to acquire a second 4660 instead. Unfortunately, some users never got a full resolution to some of the issues they were having with the 480X series of Ultras so I figured I would stick to the older hardware that performs just fine for me and my TVs.