It's a pretty major release, so I prefer to wait a week or so until the initial bugs can get fixed.
Just saw this which suggests not waiting to update due to security risk:
https://9to5mac.com/2022/09/13/update-your-iphone
... Only thing I noticed so far was the time display is much bigger block numbers...
Beta of 16.1 was released yesterday so I'm going to wait for that before upgrading.