Proxmox 8 has been released Upgrade from 7 to 8 - Proxmox VE
I’ll wait until the weekend to upgrade …
Upgraded in place to PVE 8. I answered “Y” to all the prompts. I stepped on my NUTs 
… Config files 
My Ubuntu 22.04 LTS web server and Win 10 VM restarted without issues.
No guts, no glory!
No glory for me !
Did the upgrade but a host of errors, it really did not like that I over provisioned VM hard drives, that is I build vms with 100GB hdd but do not pre-allocate the space, thinking this might save me some hassle in the future, oh boy! It’s a painful process to compress those hdds later, much much easier to expand later. Found that Ubuntu OS did not like to be shrunk but Debian was ok.
Additionally I noticed that only 2 of my 4 port quad card were recognised, again a bit of hassle to fix that but I suspect that it wasn’t noticed in PVE7 either.
After a migration of all my vms to a Proxmox Backup Server and a samba share, I did a clean rebuild that basically went ok.
However, I noticed that when using Proxmox Backup Server it fully allocates the space of a vm hdd, there might be a setting so it’s only the used space. My backup up to a samba share only copies used space.
Admittedly, I’ve only ever configured Proxmox twice before becoming dependent on it to not fail 
Looks like you need to switch to XCP-ng 
Funnily enough I started out with vmware workstation running with 2GB then with 64-bit processors I was able to upgrade to a massive 4GB !
My error with Proxmox was not playing around with it enough to understand it, then becoming almost entirely dependent on it once I had a wiki running capturing all my knowledge so I don’t have to remember. Once you fall into the rabbit hole it’s hard to get out again!
I upgraded two nodes and only ran into issues with one of them due to some old packages I installed. Not too trivial to remove. Read the wiki on the upgrade and you’ll be fine.