I received a Mikrotik RB450G a little while back that had the basics set up for me.
If I am reading this right the current version is v4.11 and looks like I have a license key that is good to version 7.x
(Please see the attached upgrading.gif)
Is this where I put the v5.7 that is currently available, and will the settings that are there right now going to be saved when I restart the router, or will I have to start from the very beginning?
The other question I had was that the manual for first time start up located here: wiki.mikrotik.com/wiki/Manual:First_time_startup
says that it is good to v4
If my settings are not saved, is there information available for the v5.7 os and setup?
All settings are saved from an upgrade. I have never had a problem with it loosing information after an upgrade as long as you have all the appropriate packages being installed for your configuration. If you are worried about it, run /export file=backup for a text based backup. Syntax can change, and has slightly between 4.11 and 5.7, but it will get you 99% of the way there if anything bad happens.
I just noticed that there is an option to do the upgrade as well via the browser interface. Does that work just as well or is it recommended to use the winbox interface?