If you have too much data on your server to fully back it up, you may want to carefully consider if performing this upgrade is the right thing for you to do.
With those warnings, I’ll state that I performed an upgrade on both the EX475 and EX487 with no issues and all my data remained intact.
HP won’t support you if you want to revert versions, though it should be possible by performing a Factory Reset with your original Server Recovery disk, which erases all the disks in your server.
For owners of the EX470 or EX475 there are a number of changes, almost all of which should be considered positive improvements, with possibly one contentious change being the replacement of the Webshare feature by the new Photo Viewer.
A great starting point for an overview of the 3.0 feature set is my in depth review of the EX490 and EX495.
One of the more important considerations to make is that once you’ve made the upgrade to 3.0, you really shouldn’t try going back to the older version.
If you are the proud owner of an earlier model of the HP Media Smart Server such as the EX470/EX475/EX485/EX487, you’ve probably been reading the reviews and watching with a little bit of envy the new features available to owners of the more recent EX490 and EX495.