Yea this is what I installed to go from 4.0.2 stock to 4.0.4 stock. This works perfectly. Everything retained except certain system folder file tweaks. No need to revert radios, bootloader or kernel. Just flash IMM30B update from BlackHat and your good to go... root retained.
The update zip listed in this thread OP is a pain in the backside since it does all kinds of checks and refuses to install if it finds anything it doesn't like such as SystemUI.APK tweaks or even if MyVerizonBackup APK is missing which I deleted a while ago.
Before I flashed this update... as a precaution I 'Reset Google Wallet' in Google Wallet settings and then after the update I simply reactivated Google Wallet using same pin and added back the prepaid card which shows the same $ amount remaining as before the GW reset.
And my Google Wallet is now updating from the market, not showing any warnings such as carrier not supported. What I did was do a force attach to market the GW application and in roughly 24 hours it showed up and updated. Now showing like any other market app installed on my phone.
Two things:
-It keeps your kernel when you flash? I have never heard of this before with a rom.
-concerning Google wallet, if I have a titanium backup of it, should I restore just the app and no data?
Also: flashed the new radios and I notice no difference in my house, still no 4g and lower than normal 3g connectivity like before. Going to test it out in the wild as I brave the supermarket today.