I upgraded a number of my Xubuntu 12.04 boxes to 12.10 over the last few weeks. This was a seamless transition.
I am very happy to say that there are no glitches. So far, I have discovered a new Settings Manager, complete with all the things that should actually be in there in the first place. This is a welcome addition.
Since I use Xubuntu, I am not subject to Gnome, KDE or the hideous Unity interface. Thusly, the changes I experience are few and generally for the better. No spyware (still), no bloat.
I experienced difficulty with one machine but troubleshooting led me to discover that the install routine found an old install, which caused grief on upgrade.
Thumbs up! Thanks to the tireless folks at Xubuntu/XFCE/Ubuntu/Canonical.