I was afraid to remove the virtualbox 3.2 package in Ubuntu because I didn't know if it might remove the .virtualbox folder which contains all of my VM data.
I have a backup so I did remove the package and found everything was intact, so I installed and upgrade to VBOX 4.0 which seems to be a huge improvement, especially in UI performance.
upgade, vbox, virtualbox, linuxi, ubuntu, didn, folder, contains, vm, intact, installed, upgrade, improvement, ui,