I have a large site running Joomla 3.1.5 and Jomsocial 3.0.5.3. Yes, it is very outdated but a popular site with data growing everyday.
I would like to upgrade to the latest Joomla and Jomsocial, and I intend to buy a new Jomsocial license, but I'm considering completely rebuilding the site first. Is it possible to migrate my Jomsocial data to a new install of Joomla/Jomsocial? Or am I required to go through the upgrade process?
Yes that is possible, actaully it wont be pain too much, your data will be safe. But you need to think with your own code, did you modify the jomsocial code? if not it will be safe, you can do upgrade directly, if you wanna migrate to new joomla installation it will be fine as well, just making sure all data from old Joomla version exported to the new one. And well, if there any issue we will help you. Make sure you backup you all data first for playing safe and nice :)
Oh ya, another one, you need to make sure your component will be support on newest jomsocial version :)