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Since you're running ML you should be able to run Yosemite just fine (same system requirements).

Unless you have some older application that isn't compatible, you should be good to go (make sure you have backups!!!).

Coming from ML the biggest changes would be visual and updates to the core OS applications (e.g Safari). Macworld wrote a good article on upgrading and what's changed here.

No shame in keeping ML though, if it works for you and you're happy with it. It will eventually stop getting security updates from Apple however, so the newer the better in that regard.
 
Always check Apple's requirements page before deciding to upgrade.


If the Mac can do Mavericks....it can do Yosemite.

http://www.apple.com/support/osx/upgrade/
http://support.apple.com/en-us/HT6412



How to install OS X Yosemite on your Mac
You can download OS X Yosemite from the Mac App Store to install it on Macs that meet system requirements.

Before you begin
Before you install Yosemite, make sure you have one of these Macs:

iMac (Mid-2007 or newer)
MacBook (Late 2008 Aluminum, or Early 2009 or newer)
MacBook Pro (Mid/Late 2007 or newer)
MacBook Air (Late 2008 or newer)
Mac mini (Early 2009 or newer)
Mac Pro (Early 2008 or newer)
Xserve (Early 2009)
Your Mac also needs:

OS X Mavericks, Mountain Lion, Lion, or Snow Leopard v10.6.8, already installed
2 GB or more of memory
8 GB or more of available disk space
Some features of OS X Yosemite require an Apple ID or iCloud account and a compatible Internet service provider; fees may apply. Continuity features such as Handoff and Instant Hotspot require a compatible iOS device with iOS 8 and a compatible Mac.

You can also back up your Mac using Time Machine before you install.

Get Yosemite from the Mac App Store
Yosemite is available from the Mac App Store. Click the button below to open the Mac App Store, then click the Download button for OS X Yosemite in the App Store window to begin installation.

Click here to open the Mac App Store
Open App Store

Once the installer has finished downloading, it automatically opens. Follow the onscreen prompts to finish installation.



If you want to install at a later time, close the Installer window. When you're ready, you can find the Yosemite installer app in your Applications folder or Launchpad. Open the app to begin installing.

Your Mac might restart multiple times during installation to install related firmware updates. Once installation has finished, your Mac starts up from OS X Yosemite.
 
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