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#11
It's worth trying to use what you've downloaded to upgrade to 1607, and see how you get on. If Windows runs, and no issues, you've won, and saved yourself a great deal of reconfiguration (unless, of course, you only have a few things installed).
Before you do either an upgrade or a clean install, use disk imaging to back up completely what you have now. That way you can always restore what you have (if the upgrade fails), & you have a full backup from which you can recover any data you've forgotten if you choose to do a clean install.
Note that MS is working on solving a number of widely reported issues some experience with the anniversary update, so it's best to be cautious.