I have a Telus Milestone, from what I understand I can apply this update
Multiupload.com - upload your files to multiple file hosting sites! which is the "ITALY Service SBF SHOLS_U2_02_38.0" and:
1. I will not lose my data
2. Because its Italy I just have to change my locale back to Canada
3. I should be able to apply root using the vulnerable recovery
4. It should fix all the issues listed in the first post
Do I understand all this right? Because if so I just need the go ahead to apply this update.