I've complained previously about the size of apt-get updates (~6 MB) and the time it took (~ 3 min). A few others had the same experience.
Today, I ran apt-get update twice a few hours apart. Both times the size was less than 1 MB just like how it was before Precise came along.
(Just to be clear, I'm talking about the data downloaded during apt-get update and not apt-get upgrade.)