I received my iLife 08 and iWork 08 discs today and thought I'd post up a few comments here about the installation.
First of all I installed iLife 08, this doesnt require a serial number and once you start the installation will automatically replace the previous version of iLife on your computer. Therefore there is no need to manually uninstall it and this way all of your settings, iphoto library and so on are carried across into the new applications.
The one exception is the old version of iMovie which is copied into a separate folder.
Also be aware that your iphoto library will be updated to be compatible with the new version so if you plan to go back at some stage you may want to make a backup of your current library before installing the new version of iLife.
So far I've only launched the individual apps to make sure that they work but otherwise havent really played with them. After installation I ran software update and there was an update for iphoto already available but so far thats it.
iWork I installed second, this does require a serial number to work as the full version and the installation installs into an iWork 08 folder leaving your iWork 06 intact. If you want to install iWork 06 it should be enough to drag the folder to the trash.
Again as with iLife Ive only just launched the apps to make sure that they work, so far they look good and from the quick look that Ive had at numbers it seems quite impressive.
I ran software update afterwards again but there are currently no updates available for iWork.
Thats pretty much it for now, once Ive played with the the apps a bit more I'll post more info here.