Well since it won't let me edit my post, here it is with edits:
If I upgrade to Yosemite - will iPhoto still work? Or should I "migrate" to Photos? In that case - how's it done (not finding any step by step directions that are real clear, 1., 2., 3., and "you're done")?
Same basic question - I might be getting a new Mac - if so, and if I do Migration Assistant, how do I get 15+ or so years of photos on iPhoto to work in Photos?
And one other big question - related to the two above - will all my Albums stay intact moving from iPhoto to Photos (everything from kindergarten graduations through kids' first jobs out of college and all family events in between are neatly in albums and backed up on 2 external drives and on optical - but I'd hate to lose the iPhoto event-to-event hierarchy after 25 years on a Mac!).