No risk at all, and not hard. What's hard, is knowing how to setup the various .ini files, if you use a "pack" or follow a guide, instead of reading the readme files and looking at the .ini templates.
At this point, you'll want to upgrade your firmware and kick SX to the curb altogether. If you use emuEMMC, I do not recommend trying to use the NYX (hekate) migrate function. It's easy enough to make it work manually as-is, whether you use file-based or partition. At least make backups of both your (emu)EMMC(s) , and your SD card, before trying anything besides placing the files on your card and booting from them.