Not only did I experience problems, I thought my phone was seriously borked. It went into a never ending reboot cycle, and it was all I could do to get it to turn off. Once I got it turned off, I was able to restore to 1.1.4, so there was no permanent damange.....other than to my courage regarding homebrew on my iPhone. Needless to say, I've decided to stay un-jailbroken for the time being.
I used ZiPhone....that may have been my downfall.