Depends on what security flaws they update, I've had my linux box up for over a year before, but I don't run many services and it sits behind a router. Windows is set to autoupdate, so it reboots pretty often, though.
I'm not saying I'm against updating, but if my phone is working (luckily it currently is), I shouldn't be forced to update unless there is something that actually is a problem for me, like someone being able to send an SMS to me that does something.
All the bugs the original poster notes would make me want an update, too, but I think returning the phone was the right thing to do. If my phone was that buggy from original purchase, I wouldn't want to wait for an update, either.
I'm not saying I'm against updating, but if my phone is working (luckily it currently is), I shouldn't be forced to update unless there is something that actually is a problem for me, like someone being able to send an SMS to me that does something.
All the bugs the original poster notes would make me want an update, too, but I think returning the phone was the right thing to do. If my phone was that buggy from original purchase, I wouldn't want to wait for an update, either.