Did some testing on these and have come to the following conclusions: 1. Postnew works with both old and new installations. Did significant beta testing and discovered no issues. Exported all entities from localpostgres to xml files and then imported them into localpostnew installation. Works a charm.
2. Inspite of the comment in fieldtypepostnew.xml, localpostgres is significantly faster than localpostnew. The comment says "Tip: there is no performance differences between these three types...". That was not my finding. In multiple test run (all reads), localpostres was in excess of 15% faster, and that is overall, not just the postgres part. Given that most of the time is spent in ofbiz code, this is very significant. This was using exactly the same data imported from the above mentioned xml files. Hope this helps someone else considering this. I am going back to localpostgres. Skip