Modifying Revision Scheme - Pros & Cons

I am using SW2010 SP4.

I am considering modifying our revision scheme to be more inline with ANSI standards. We have used a single Alpha revision (with working copy) with no lifecycle functionality in the past. I woud like to change to a numeric revision for development and an alpha revision for release.

We also manually set our revisions and have the vault accept what is set in the files. I do not have the Vault's revision table functionality enabled. That process works for our situation.

For now, the considered lifecycles are very simple - In Development, Released, Obsolete.

I have read through several discussions but wanted to get some clarification on a few things.

Firstly, does a change in revision scheme and implimentation of lifecycles on an existing vault come with any dangers to existing vault data? The help file says the revision scheme can be changed at any time and will only affect items from that point in time...

Secondly, I need some specifics on the settings to enable the scheme outlined above. If I understand correctly from posts by Kenneth and Matt, I need to set my Primary Scheme to a range of 01 to 99 and my Secondary Scheme to a listing of alpha characters (A-Z without I, O, S, X, Z). Sequential revisioning is checked. I have attached a screen shot.

On the lifecycle tab I have Enable Lifecycle checked, my three status names created, and settings for each of the three as shown in the attached screen shots.

Thirdly, someone posted (sorry, forgot who made the contribution) that setting the lifecycle "Change other document revisions at the selected status to status" to Obsolete for the Released status would automatically change the old released revision to Obsolete whenever a new revision was set to released. Do I have this stated correctly?

Thanks much for your input.  Daen

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