Thanks for your reply berndweyand! I don't mean to be slow, but just so I understand, I can use this as my procedure:
1. Power off SQL server w/ SP1
2. Create a snapshot
3. Power on SQL server
4. Upgrade to SP2
If all is well, get rid of the snapshot and go on with my life.
But if I have to revert:
1. Power off SQL server
2. Revert back to snapshot
3. Power on SQL server back to SP1 before trying upgrade