I had to migrate our databases from 9.1 to 9.2. We have high number of databases per cluster (more than 1000) and high number of tables (indexes) per database (sometimes more than 10K, exceptionally more than 100K).
I seen two problems:
a) too long files pg_upgrade_dump_db.sql, pg_upgrade_dump_all.sql in postgres HOME directory. Is not possible to change a directory for these files.
b) very slow first stage of upgrade - schema export is very slow without high IO or CPU utilization.