1. Copied update-cm-9-20120605-NIGHTLY-galaxys2-signed.zip to internal SD card. Transfer speed leaves much to be desired. I think it took more than a minute (for a 134MB file)
2. Verified MD5 checksum via ES File Explorer = 928e2629a7eadabf566c29fc8b934714
3. Created a backup using ROM Manager.
4. Reboot into CWM Recovery.
5. Flashed update-cm-9-20120605-NIGHTLY-galaxys2-signed.zip
6. Wipe cache partition.
7. Advanced > Wipe Dalvik Cache.
8. Reboot.
MD5 Checksum Verified!
Upgraded kernel 3.0.32!