I think I started a new contract in Jan but not 100% sure. It's seems like a good deal, however our current box is 40% full and I believe you lose everything in the upgrade (but I'm not sure why).
Think like changing PC, anything on the old PC is lost when you get the new one. There's no function to copy items from the hard drive and even then with a big Hard Drive it would still take hours. It's just not feasible.