Noob Question About Installing SL

I have leopard installed, just go my mac like 2 weeks ago. And I am getting the retail disc from apple tommorow. I was wondering what happens to all my applications that i had installed. Does this mean i have to reinstall everything like iwork, and my printer drivers (hope not this was a nightmare).
Also would i need to reinstall vmware and readd my boot camp partition.
If I have to do that i would rather just wipe and format the entire drive and put SL and Win7 on it. Please advise.
Thanks

 

yay, good i did not want to put all that stuff back on. And i was not interested in buying an external hardrive for a time machine back up.