I needed to do it, unfortunately. As a result, some of the custom board features stopped working and I had to remove them. Thankfully, the downloads and the gallery images transferred over without any issues. The awards system might be recoverable, though. Until the third party mod developers develop their modifications for the newest board software, I'm afraid they won't be returning. It sucks, because I really enjoyed the custom profile fields and arcade system.
EDIT: The site is barebones again as a result, but all our messages, members, downloads, and images transferred over, so let's see what can be rebuilt.