Hi everyone, I have the same problem as DuncanSD.
At the step: "Turn the camera power on while pressing the MENU button." I just get the "ver: 1.00" in the display, the update does not start.
I'm placing the bin file in the root of a 256Mb SD card that I have tried formatting in the camera as well as in the Windows PC (with the same result). I've used this SD card for years and it works fine in the camera to store the photographs.
I have even tried redownloading and extracting the bin file, to no avail.
Help me!? I'm so desperate I may even go to Canon.com