If I update to itunes 9, will my gift card $ delete and my library too?

I have seen mutiple topics about itune 9 being a total pain... but if I update will I defintely lose my store balance from gift cards, and my library of purchased & imported songs??
I have windows, and still have itunes 8(i think).
Thanks for all help!

See -> How to back up your media in iTunes - Backing up your iTunes library to a CD or DVD
or -> Back up your iTunes library by copying to an external hard drive
Personally, I run a backup program to backup my internal HD to an external HD automatically, twice a week.

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