Upgrading from 1.2.2 to 1.6.4

I have been running xibo server version 1.2.2 form few years - no problem work great. Now, I need to move our xibo server to new server and thinking of upgrading my xibo server as well.

In the old server, I have a old version of mysql server :
mysql Ver 14.12 Distrib 5.0.95, for redhat-linux-gnu (x86_64) using readline 5.1
and xibo version 1.2.2

Now I installed new server and mysql version is bit differnt than the older one :
mysql Ver 14.14 Distrib 5.1.73, for redhat-linux-gnu (x86_64) using readline 5.1

Would you summarize the upgrade process from older version to newer version ?

would myqldump -u u .. -p xibo >xibo.sql from old and new server mysql -u ..-p xibo <xibo.sql enough ?

Khapare