2 bits of wisdom:
1. As mentioned below, always try this upgrade on a test/ offline/ sandbox/ development/ testing /etc server first
-- Clean out the $PGDATA directory (keep a copy of your pg_hba.conf and postgresql.conf for reference)
2. A simple 'mv data/ data73/' after pg shutdown keeps your 7.3 DB around incase something goes terribly wrong (i have had some dumps that would *not* re-import themselves due to illegal characters). If you need to get back online asap, just slip the 7.3 rpms back in, and 'mv data73 data'
I'd recommend a test run of the major upgrade procedures you're planning on doing on a backup machine in case you run into some problems. Use of a replication engine, like Slony as well as pgpool can allow you to seamlessly upgrade your installation while it stays online. I'd practice this too on a backup system before going after the live servers.
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