M3kk
You really SHOULD do a backup before you do a major upgrade.
If something went badly wrong (which is possible) then you could lose some or all of your data.
A 2Tb USB drive is relatively cheap these days & is a good safety measure.
The backup will compress your data so it will/should fit on a large (say 2Tb) USB drive. It may take many many hours to backup though.
Alternatively if you are using a software RAID1 setup with 2 drives, then you could remove one drive before you start the upgrade. That way you have a safe copy of the whole functional system as it was before the upgrade.
When you do the upgrade I suggest you disconnect the network cable going between the server & the the modem, that way the server will not be sending or receiving mail & so on during the upgrade process, so if you needed to revert to the old sme7.6 server you could do so without losing any new or sent messages etc.
If you are unsure about any contribs that you rely upon, then I suggest you do a test install of sme8 to a spare box & install the contribs & ensure they work to your satisfaction. Most el4 contribs should work on sme 8 (el5 pkgs) but some may not or may need to be upgraded to el5 versions (many contribs have el5 releases now).
Another "test & be sure" approach can be done if you have a 2 drive software RAID1 setup.
Take one drive out & put it in a spare test box & try the sme8 CD upgrade on that.
You will find any problems & resolve them before doing the real upgrade.
When you upgrade a server the old el4 contrib packages will remain installed, & all the settings & configuration will remain, so (most) existing el4 contribs should still be installed & in working order, as long as they are known to be compatible with sme8. Do your research first. Check the contrib compatibility lists on this site.
To answer the contrib package upgrade question, if you upgrade a el4 package on sme 8 to a el5 package, then the new package should work with the old config settings, provided the new package is compatible & no major design changes have taken place. In most cases upgrading a contrib works OK.