question about fedora

[Vortek, Eater Of Souls!]

Hello everyone,
Just had a quick question for anyone whose installed fedora.
Does the setup program have the "upgrade" option like the rh8 installer
did, and if so, how does this work exactly?
does it keep all my configurations the way I had them, and does it
upgrade the kernel?
Also, what kernel version is used on the speakup iso images, and is alsa
compiled in?
Thanks.