The upgrade path will eventually make it to the current 'release' path. They might first release it to the Alpha branch, or they could put it out onto the Beta branch. Either way, eventually, it will make it's way to the Release branch.
However, given the broad scope of the update, I would do a complete new install when it makes it to the Release branch. It may, or may not, be required but I suspect that it will be a good idea.