Well you might want to do it this time around. So check out this tutorial here.Partitioning your harddrive using Gparted within the VL installer.
Grannygeek had some great advice on backing up your data. It's an older post and mentions a move from 5.8 to 6.0, but the same is true for 6.0 to 7.0.
If you don't have a separate home partition, you can still save everything in it. Copy the contents of /home to a Linux-formatted hard drive if you have one. If all you have are FAT32 external drives or CDs to write to, tar the contents of /home and copy the resulting file to a removable drive or a drive partition on your computer or burn it to a CD. The reason for tarring it first is that your ownership and permissions will be preserved. If you simply copy files "as is" to a non-Linux formatted partition, you'll lose ownership and permissions.
Then after you have your new VL6, untar the file somewhere other than where it would overwrite your newly installed /home. You might actually replace the new /home with your old /home. However, there are probably new files there reflecting the changes between 5.8 and 6. So I prefer to be judicious about it. I copy data back and hidden files for individual programs I installed and then add back what I need as I get familiar with the new version of VL.
This saves a lot of time compared with creating everything all over.
If these is anything about Granny's process you would like to see in a sceencast just let me know.