Thanks @Hector_B .
Could you be so kind and point us towards someone who can give us an adequate and straight forward answer on this matter? It's been a month already, and there's no answer. I'm very disappointed with the quality of what once used to be a nice and good pair of $350 headphones. Since this great company broke them, they should replace them without costs, even if I'm out of warranty, and not asking for $250. I took good care of my own good, it was working perfectly, and it wasn't my fault that they released this firmware.
Awesome, let's hope this will bring some attention to the problem from Bose's end.
I cancelled my 700 preorder and ended up getting a pair of Sony MX3s in the meantime to soothe my noise-cancelling needs while working and traveling.
Here's my short review of MX3s in case anyone is also considering jumping ship:
The sound quality is good after some EQ tweaks which can be done at hardware level through the Sony app, which enables it across all devices and apps. It was a bit too bass-heavy and muddy out of the box, but EQ adjustments made a huge difference, and that is something I've always have wished Bose had.
MX3 NC is great - I would say it's a bit better than pre-update QC35s. It cancels out about the same amount of white noise, but also reduces talking/keyboard/babies crying a bit better. Night and day compared to the post-update QC35s, which are continuing to collect dust.
Build quality is great, and the headset feels very sturdy. Also, it looks nicer in my opinion if you care about that sort of thing.
The comfort is not bad but not quite as good as QC35 - the headband is a tighter and the earcups are a bit too stiff on the Sonys compared to QC35s. MX3s actually feel very similar to the Bose 700s that I tried at Best Buy earlier today, which I also didn't care for due to added weight and stiffness.
I really preffered the QC35 on-off toggle power switch that doesn't require holding a button for a few seconds (same problem applies to the 700 headset)
No multi-device pairing/switching
Still the original issue has not adressed. A pracitce of publishing detailed change log of the changes added the new firmware verssions.
Did this update (3.0.3) last night - now i can hear a radio playing across a room at a low/moderate volume even with noise reduction set to high. My 2.5 year old headphones no longer provide the noise cancellation they used to. Really disappointed.
Trustedreviews also wrote about this here: https://www.trustedreviews.com/news/bose-qc35-firmware-noise-cancelling-3922813