If you think you're gonna be over your head, then wait till your Carrier release the official version.
BTW.. no you won't need a new BB, but you'll need a bunch of aspirins for the headache that you'll get.
Personally I would be patient and wait for the official release. Too many bugs have been reported withe beta version and many users have had to revert back to their old OS.
This subject has been covered many many many times.
I'm on a non-brick Pearl using OS 4.5.0.18.
If you want to do it, do a search for how to upgrade your OS and also how to wipe and reinstall your OS.
Posted from my CrackBerry at wapforums.crackberry.com