Excellent... I will let you know how it works out for me.
Thanks for your time Nick!

I'd like to say it was all very simple, and it should have been per your instructions, but I ran into a problem when ftp'ing files. I ended up removing all instances on my server that I could see of community builder and then just went in to the backend and installed it as I would have for a first time install. It is all up there now, but I haven't done anything such as synchronizing users, etc (should I have done this?).... strange enough though, even with taking everything out and starting over, my members are still in there, all of the profiles, pm's, etc. are still in tact. I figured that would all be lost when I removed the files... hmmmm

Can I assume that if it shows my latest version as being 1.0.1 on the backend that I am safe as far as security goes?