This should be a painless process in theory. But the site'll be up and down for a bit.
[Later...] It was definitely painless. No compile errors or db issues or anything. That's pretty impressive since I moved from v1.5.6 to 2.0.1, wouldn't you say? Go IronFlare! You RULE!
While I was at it, I swapped out the xerces, xalan and jaxp jar files so Cocoon will run without fits. Updates will come shortly.