Same here. In fact i never experienced one single kernel panic since i bought my new iMac about a year ago. But now, with this @#$$ update my iPhoto seems like crashing eventually. Chances are, reading the log, the problem is located in video card...
Heres my log.
It solved several artifacts in Valve's SOURCE games, such as HL2 and L4D2. Performance is a bit more consistent with shaders and detail on the higher settings.
This is on a mid-2010 21.5" iMac (i3 3.2GHz, HD 5670)
It greatly increased my framerates in WoW, I went from 7-8 FPS in Dalaran to 28-34 FPS. It is actually playable now in OSX for me. I have a 2010 13" MBP