I've been using the arch package without any problems for a while now, and didn't have any problems while upgrading previously. Anyways, I cleared the old files and re ran the upgrade, and it works fine now.
A small side note..fps values in glxgears seem to have taken a hit.. previously I was getting ~ 15500fps, now with the new drivers I get ~ 14000fps
See
http://pastebin.archlinux.org/23421
If this fps drop is expected behavior (since glxgears is not a true index of performance), then a signoff for x86_64 from me.
Nvidia 7800 GTX for me btw.
Varun