Unfortunately the one feature I was most looking forward to in this update appears to be crap. To upgrade your fleets you have to park them in one province where they are then upgraded *one at a time* at the normal speed it takes to build them new. During this whole time you do not have use of your fleet. I sincerely hope this is fixed. Ideally it would factor in how many port provinces the player has and multiply the build speed in proportion to that (e.g. if the player has 5 port provinces the upgrade speed is multiplied by 5 + any build time buffs from buildings).
Also the fleet build template is essentially useless unless all your port provinces are right next to each other. Sorry Venice.
All ships are upgraded with one click.