Currently Being ModeratedFeb 23, 2013 9:43 AM (in response to mac2422)
Scroll down and it will show the iOS version you are currently running.
Now about losing apps and media; either bak up to your computer or bite the bullet and bak up to the cloud.
If you lose apps go to your "Purchased" list and reinstall from there (There's no charge).
Depending on where you are (say the U.S.) you can re-download most purchased media but this is by no means universal so make sure you've backed up!