This was my experience, just finished updating with no problems.
Placed the bin file into a new formated sd card and then placed the card inside your phantom 3. turn on the bird and let it do its beeping. During upgrading it will beep 4 times continuosly, pause, and then continue to beep 4 times, all these whilst the camera status light blinks red and green.
Now here is the difference i noticed, every once in a while, it plays the start up sound, so far i think i counted that it played it 3-4 times. After that, it stops with the start up sound(but still with the 4 quick beeps). Camera gimbal then dances for a while, and then the beep slows down to a slower 4 beep.
After all this is done, the 4 beeps will cease and you get a steady green light on the camera status indicator.
Power off your bird and you are done!