The Flash of the card CANNOT take place BEFORE changing the CPU because the flasher will tell you that you have wrong processor for this update. But BECAREFULL you must have a PREPAIRED disk before change the proccessors because the only thing you can do with an 060 cpu with 040 flash is get to the shell by geting to earlystartup and selecting to start without S-S, any booting without the correct flash will crash the machine. Also its best after you have changed the cpu to disable the BPPC card by holding key 2 when starting up to do the flash with the internal (020) processor, this flash with 020 will take up to 10 minutes maybe a little more so you must be patient and do not distrurb it because you can end with a useless card.
If you dicide to go for the update I'm wishing you luck.
:-)