Hi,
It's not too bad realy. You will surely have issues with a customized css if you have one, but otherwise you should be fine.
The cubes can be upgraded as they are; just open them up in the new transformer and you're done. Afterwards you can start implementing new features like using propper data sources instead of iqd's, but that is not necessary unless you want it.
Don't upgrade 8.3; do a fresh install of 8.4 and import the old content store.
Needless to say- try doing it in a test environment before messing up the prod
