Shouldn't be an issue at all from a compatibility perspective. Check out the migration guide for further details on the migration procedure: http://www.solarwinds.com/documentation/orion/docs/OrionServerMigration.pdf
be carefully how you do this,
you can end up with some poller issues that are easy to fix, if you don't read that guide properly.
also I would recommended not using blade servers for your monitoring environment, keep this in mind, if you have an issue with your blade chassis or blade hardware.
ie your blade chassis looses power kiss your monitoring solution good bye, its the reason we run physical hardware where I work (the was a push to virtualize) and move the sql server off
when you do stuff like this your monitoring environment becomes dependent on the sub hardware that supports those blades / Vm's, yes dedicated hardware can fail to but there are no shared backplanes / switches / san hardware like you have in a blade centre environment
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Just thought I'd post a quick update to state that I completed this and things have been running well so far. Had a few issues I had to work out with support...but that was mainly because there are updates supposedly to the guide that they haven't included yet. The most problematic component was patch manager and NCM...we had to manually rerun a few wizards to get NCM to merge the databases and patch manager just wouldn't work right at all...kept crashing the config wizard. After they had me remove that and also start with a CLEAN solarwinds folder everything went well. Its been up and running for a few months now and is much much faster than before.
Thanks for posting this update. I will be completing a similar upgrade with newer versions of the software.