How to Upgrade.

There are pros and cons to doing upgrades, no matter which method you chose.
Here's a list of pros and cons with each method, to help you decide which
is the best course of action

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Option #1: Run the upgrade program provided w/ new version of S/w

Pros
- Easier, automated method
- less time consumed performing the upgrade.

Cons
- Risky, especially if you haven't tested.  There is no fallback position,
either with the software or the databases.

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Option #2: Create a new install directory and do a dump/load of database

Pros
- Safer method; you can bring the database online, resolve any upgrade
issues and have a quick cutover
- Less downtime/unavailability for users: a very quick cutover of servers
off hours.

Cons
- if you're not intelligent about setting up $SYBASE variables
then a lot of hard-coded directory links in scripts and user environments
will break, since $SYBASE will be changing.  This can be avoided by always
creating a general directory for $SYBASE (say /opt/sybase) and have "sybase"
be a soft link to the actual program code installation (/opt/sybase_115 or 
/opt/sybase_1192).
- Requires lots of free disk space and server resources (running two
versions of Sybase simaultaneously will hurt performance while you're
testing and bringing the server online).
- Requires more time; more manhours to create the environment and load
up the databases one-by-one.

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Option #3: Load Sybase over existing install and load database from tape

Pros
- An alternative if you don't have the space to bring online
two installations but you don't want to run the upgrade program provided.

Cons
- Risky; very risky.  If the database load doesn't work, you have to
reload the entire previous version and resolve the problem.
- More downtime than either Option #1 or Option #2

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Recommendation;
Use Option #2 unless you don't have space or your databases are very small
or non-critical.  Then do option #1 and pray for a painless upgrade.  Get a
backup of your binary executables!!  I would suggest tar'ring up the entire
old $SYBASE directory before upgrading (since Sybase s/w doesn't get installed
via packages) for safety.