how to migrate from MySQL4 to MySql5

I have been dreading this day. I finally got officail notice from my ISP:

"Following the end-of-life announcement by MySQL AB (the company that develops and supports MySQL), we would like to remind you that MySQL4 is discontinued since September 30, 2006. The extended support for MySQL4 will end on December 31, 2008. Any security vulnerabilities that are discovered in the latest version of MySQL4 will not be fixed by the vendor.
This means that we may be forced to completely stop supporting MySQL4, without a prior notification, at any time after January 1st, 2009."

I have been trying to get my arms around just how difficult the task is going to be, but at least I have 2 months.
On my Admin Panel there is a button "convert to MySQL5" but I know it can’t be that easy.

I wake up at night thinking- I will simply open up index.php and change the pointer to the MySQL database I created by clicking on the convert button. There is a twist. In the connection, it is no longer "localhost" it is "localhost:/tmp/mysql5.sock". Am I going to have to search for every connection in every file and change it?

The next night I wake up and think it would be best to do a new install of modx in a folder other than the root, then copy and paste all the content, templates, on and on, test it, then move it to the root, but then there would be problems with paths. Crap. I just can’t win.

Has anyone had to switch from 4 to 5? If so, any warnings, tips, pitfalls, or advice you can give would be greatly appreciated.

Your MODx ... er, excuse me, modx, shouldn’t even whimper. The connection stuff is all handled automatically by your PHP. The one thing that might be a problem for you is if the new database is configured to use "strict" mode; there are some issues with the current modx tables that do not conform to that mode.