Nothing comes for free in this world, so yes, there is a catch. You’re going to need to delete a good chunk of memory to upgrade your life.
ZDNet provided some navigation steps:
Though, it may be a few more hours until you get the update, or receive the notification that you’re ready to jump to the latest version. That’s because hundreds of millions of Apple’s smartphone and tablet users are upgrading at the same time
The latest software version is is compatible with iPhone 4s handsets and later, iPad 2 tablets and later, iPad mini and iPad mini with Retina display, and iPod touch (5th generation) devices.
And, don’t forget to backup your phone first.
There are three methods of updating: on the device, and through iTunes, or for enterprise deployments.
For the vast majority, updating from the device is easiest and quickest. The update will be ready to download and install when the notification arrives on the Settings icon on your device’s home screen.
OS 7 users and earlier can upgrade over-the-air on compatible devices by going to Settings > General > Software Update. However, we saw with the previous update last year that had many users frustrated that the update was slow to download, or would not finish downloading. It may take repeated attempts.
Because the size of some update files are huge, downloading over a Wi-Fi connection is recommended.
Apple just snatched up the summer right before it ended, tough break Samsung.
See IO8 reactions tweets in the gallery.