Ya, Craig you are right to say, "This is a good reminder to make sure you're happy with what you're getting and not to buy based on promises of future updates." Consider anything above what you originally get to be a bonus!
Though it is quite misleading for the company to promise an upgrade then not deliver. It's almost deceptive advertising since they were selling the device with promise of an upgrade.
But all in all, I guess you could complain to the company that you bought the phone with promise of an upgrade and see if they will compensate you somehow or just chalk the whole thing up to a learning experience. Although it sounds like you already did make peace with the whole situation, it is still a good reminder (or lesson) for others!