Appreciate all the responses. I, too, was applying my experience with Windows and preference for a clean install and rebuilding from scratch. But, since I've had no experience with Android, I didn't know if it was true or not.
In my opinion, I'd rather invest the extra time to doing a factory reset and starting with a nearly clean slate (no third-party apps) than to troubleshooting and solving issues after the update. Plus I just like the idea of a fresh start.
One disclaimer, though: I anticipate having a pretty basic setup without a lot of apps installed and not much data that I'll need to worry about.