I have heard questions around these scenarios from several people lately:
The steps aren’t where we’d like it to be, but its far better than the manual workaround that involved creating a temporary project we had in Beta 2. It still requires updating each project individually and we are working on a powertool to make that easier for RTM.
My colleague, Gregg Boer, has posted the instructions on his blog: http://blogs.msdn.com/greggboer/archive/2010/02/24/creating-sharepoint-portals-reports-and-upgrading-reports-for-an-existing-team-project.aspx