HH,
To add to Mike's post I can agree that this upgrade is similar to the LTM upgrade. Although I took both an Archive and a Policy Export I actually setup the LTM bit from scratch and then exported / imported the existing ASM security policy. The only issue I had with the ASM policy import was because I was going from v9 to v11 we had a Validation error - but this was more to do with how we had one particular setting setup that v9 was happy with but not v11. Application Security - Overview - Summary detailed what we needed to do for the ASM to be happy.
Hope this helps,
N