If I upgrade firmware - what do i lose?

I have not made any custom patches (I only toggle thru presets at the moment) . when you upgrade, do you save off your personal patches and the upgrade and then import them back in? otherwise wouldnt the new image overwrite your patches with the new potergist pig (or whatever) :)

I am going to give the AXE-EDIT a shot this week, and try to cutomize some patches. I really like the presets, and can in no way be better at setting voltage levels, mike types and revereb decay than the experts who built this device, but maybe i could optimize some setting i like for my particular guitars and maybe set some relative volume levels.
 
Patches are not overwritten during firmware update, but when you are making custom patches it is wise to backup first just to stay on the safe side if something stuffs up.
 
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