If you have the ability to back up all of your stuff to disk, I would definitely recommend it, regardless of how you approach this task. Once you have, it doesn't make much of a difference whether you do an upgrade or clean install. I've always preferred clean installs just because they seem to be smoother and I like feeling like I have a fresh start. I always find when I do one, that I tend to not put everything back that was there before. I just keep the backup disks handy for when I need to find a document.
You will be much happier once you get away from ME. I initially went from ME to win2000 and it was like night and day. Now with XP, the only time I ever have to reboot is when I choose to. It's never locked up.
Good luck!
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