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siria
Am not 100% sure, but if you delete the old version first, you may risk to delete your profile too with bookmarks etc...
Can never harm to first make a backup copy of the profile folder and even the KM program folder.
You are correct about the backup, but the installation wizard will lead you safely through the installation and will ask you if you want to delete your profile, as well as some other files in the program folder. Just be careful and don't rush ahead.