@CamdenKrupala if you're on WP 8.1 DP right now, you don't need to do ANYTHING and you'll automatically get 8.1 Update 1 next week.A vast number of our users are on the Windows Phone 8.1 Developer Preview.
— joebelfiore (@joebelfiore) July 31, 2014
The good news is that next week you should automatically be prompted to update to the next version of Windows Phone 8.1, Update 1, which brings numerous new features, including new folders, SMS improvements and much more.
Of course you would still be lacking some hardware features such as Bluetooth LE support, and it may make a lot more sense to actually downgrade and next week install the new developer preview.
What will our readers be doing? Let us know below.