Much like everyone else I'm really excited about the new update, but in earlier updates, character saves and files have been completely wiped. Does anyone know whether or not this is going to happen again with the new update? I really don't want to start from scratch again!
The new update isn't anywhere near 1.0. You'll lose your universe, almost certainly. Characters? Probably that too. Maybe not, though.
I believe something along the following has been said: "If you're on Stable, there is a chance we won't have to wipe everything, but honestly, you'll be missing out on so much if you don't delete your universe folder" So, in other words, you're more than likely better off just starting from scratch. If you play on the nightlies, you're maybe more likely to save your files? Though even that seems somewhat unlikely. I wouldn't get your hopes up, basically.
This is one of the good things from not playing for a few months... nothing to lose and everything to gain by waiting for the release.
Meh, I'll just rebuild better this time around. Mind you, I'm still backing up my world outside the Steam folder.
Even if you won't lose your saves, most likely all the new changes and features won't happen unless you generate a new world/character. In order to experience the game in it's updated, and when the time comes, finished state, you'll want to roll new. That said, while you will lose what you've built, you can always use admin commands to spawn all your items, blocks, equipment, etc, so you wouldn't have to start all over in that sense.
This kind of question is one of the reasons the developers mentioned about why they waited so long before pushing out a unstable or stable build. People get WAY too attached to their characters (and planets in some cases) even though this is clearly an early access beta, and complain mightily every time there is/was a universe or character wipe. While understandable, all the angst every time people had to start over from scratch was one of the many reasons its been almost a year since the last unstable/stable build. That being said, you will almost certainly be able to keep your character, but you will have to delete your universe file if you want to use any of the newly implemented features. So you might as well start over anyway unless your really really attached to that character.
Characters will get incompatible because there is a complete new progression system. Ships will get incompatible because they're acting in a complete other way. Planets can get incompatible due to new generation routines and new biomes. All other stored data will also get incompatible so you can't use them. So yes you will need to start from scratch but due to the new progression system it would be quite fun because you do other things.