Things can go wrong, but pretty rarely. You should not lose anything at all (except maybe some very rare case of software that works under Leopard but hasn't been updated for Snow Leopard).
You should just be able to bang in the 10.6 upgrade disk and follow the prompts, and it will almost certainly work. But, if you need extra reassurance, here are some tips to add to those you've already recieved.
To avoid potential problems, repair your disk permissions and verify your boot disk in Disk Utility.
Now reboot, all the way to the desktop. This makes sure you have a well working system before you start.
Take a final backup (clone would be fine, clone and Time Machine would be best)
Now install Snow Leopard.
NOTE - since there are known issues with 10.6.4 and nVidia drivers, you may not want to go to 10.6.4 just yet. But if you do,
Download and install the Combo update
http://support.apple.com/kb/DL1048
Boot into Safe Mode (hold shift at power up)
Install the Combo update.
Reboot.
Run Software Update and apply everything else.
Reboot.
That's your lot.