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In theory, you should only benefit from the update.
Make sure that the following boxes are ticked:
- The page contents and (ideally) placements are identical.
- The links are functioning, and proper redirects are set in place (if there's a need).
- The theme itself is fully optimized (unnecessary CSS and JavaScript removed, including unneeded and/or obsolete jQuery modules), meaning minify everything, and inline the CSS and JavaScript if your theme is simple enough.
- Remove the unnecessary HTML bloat from WordPress by inserting the proper functions in the theme's functions.php.
There is absolutely zero reason for you not to benefit if all of the boxes above are ticked, and even if they aren't, it will probably be better than something that's bloated and outdated.
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