I have updated Assets from version 1.2.2 to 2.0 following the steps on the P&T website.
After going to 'Add-Ons -> Modules', selecting 'Run Module Updates' and confirming 'Update' on the Assets warning page, I received various PHP errors (which I stupidly did not copy). I was able to re-load that page and view the updated UI for Assets.
I no longer see any of the files and images that were present in Assets 1.2.2 in the File Manager. Images on the front end are also now missing. Viewing the database, it looks like everything ing the
exp_assets_files table is gone.
I have also run 'Updated Indexes' for both of my directories handled via Assets and cleared my browser cache.
I am attempting the update locally via a MAMP install running PHP 5.3.14 and do have a db backup.