is there anything i need to worrie about also how do i got about doing this just reboot and run new rom corect
Everything in the phone will be erased when you switch.
Everything in the phone will be erased when you switch.
Everything in the phone will be erased when you switch.
If you want to save anything, back it up BEFORE YOU START to update!
Even make a backup of the contents of your microSD card before you start.
After you finish the update, when you FIRST go into the Market app and switch to the My Apps view, it will show you a list of the apps you had installed and give you the option of reinstalling them. This only happens the first time you run Market. After the first time, it switches back to only showing what you have installed, so use it or loose it. Don't switch away from the Market app for any reason until you've reinstalled everything you want to reinstall.
After you're finished updating and reinstalling apps, I recommend you also install the Titanium Backup app. It's one of the only apps that will save and recover everything. If you are already rooted (or you can find one of the non-destructive rooting apps) I recommend installing this before your update and use it to back up everything. After you finish the update, you can use this to reinstall everything instead of using Market. BUT, if you change roms (as you implied you're going to do), when using TB to restore your files, don't restore any of the system data files as those tend to change from one version of the OS to another.
Good luck.