I have installed the update and it did bork Classic. But it was not necessary for me to hard reset Classic. I connected the Pre to my laptop as a USB drive and cleaned out the ClassicApps and Install folders. Classic proceeded to run happily and created the classic Palm/Launcher folders under the ClassicApps folder. I moved the stuff I'd had in the ClassicApps folder to the Launcher folder and they ran happily in Classic. There is also a new Install folder Palm folder as well. It's not great that this happened but at least it was an easy fix with no loss of data.
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