Do you want to upgrade the base or the ITSM?
I've never upgraded from ARS4.0 to ARS7.x but I'm sure there shouldn't be any problem. If you wish to upgrade from ITSM4 to ITSM7, well that's a complete different story. If it is a custom build application, it should still work on ARS7, you don't need to upgrade it. If it is an Customized ITSM4 module. Well, I don't know what would be your best approach, i think the easiest will be a clean install of ITSM7 and then modify (ONLY IF COMPLETELY NECESSARY) it to have the same functionalities that v4 had.
Hope this helps :-) and good luck
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Mayhem, Chaos and Anarchy
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