I would simply clone your hard drive to a SSD and then replace the hard drive with a SSD.
You can use acronis true image clone utility to to the job. It is available as a free 30 day trial.
There are other clone utilities out there.
Better yet, Intel offers a tailored ssd migration tool which is a modified version of acronis that will work with their SSD's
If you have not shopped for a ssd, intel has some clearance sales on their 330 series. Samsung is also discounting their 830 series.
For reliability, I would favor Intel or Samsung.
Buy a external USB 3.0 to sata enclosure and temporatily install your ssd in it.
Something like this:
http://www.newegg.com/Product/Product.aspx?Item=N82E16817182140
Attach your new ssd to the laptop via a USB to sata connection.
Clone the old HDD to the ssd.
If, by any chance, the clone operation has a problem, you can easily recover by reinstalling the original HDD.
After all is done, you can update in place to Windows-8 if you want.
I don't think I would update to windows 8, at least not right now.
I see no compelling reason from a functional point of view.
The faster boot times are irrelevant with a ssd.
And there will still be the inevitable new os glitches.
Since you cloned, all of your existing files will be on the SSD.
I would reformat the HDD. That will also remove the hidden recovery partition.