Steps taken:

Load up bare metal or a VM with FC16
Install 3.0 from http://www.ovirt.org/releases/stable/fedora/16/
Setup up something minimal (EG: engine-setup then setup a basic datacenter/cluster/etc)
Add a FC16 or EL based node for fun as well and some VM's if feeling ambitious.

Back up database:
systemctl stop jboss-as.service
pg_dump -C -E UTF8 --column-inserts --disable-dollar-quoting --disable-triggers -U postgres --format=p -f "/temp/engine.sql" engine

Back up the following files within /etc/pki/ovirt-engine from a 3.0 install (preserve owner/group).
/etc/pki/ovirt-engine/cacert.conf
/etc/pki/ovirt-engine/ca.pem
/etc/pki/ovirt-engine/cert.conf
/etc/pki/ovirt-engine/certs/01.pem
/etc/pki/ovirt-engine/certs/02.pem
/etc/pki/ovirt-engine/certs/ca.der
/etc/pki/ovirt-engine/certs/engine.cer
/etc/pki/ovirt-engine/certs/engine.der
/etc/pki/ovirt-engine/database.txt
/etc/pki/ovirt-engine/database.txt.attr
/etc/pki/ovirt-engine/database.txt.attr.old
/etc/pki/ovirt-engine/database.txt.old
/etc/pki/ovirt-engine/keys/engine_id_rsa
/etc/pki/ovirt-engine/keys/engine.ssh.key.txt
/etc/pki/ovirt-engine/private/ca.pem
/etc/pki/ovirt-engine/requests/ca.csr
/etc/pki/ovirt-engine/requests/engine.req

Load up bare metal or a VM with FC17 (Upgrade from FC16 --> FC17 is still rather messy)
Install 3.1 from http://www.ovirt.org/releases/beta/fedora/17/

Run engine-setup to get an initial setup.
stop ovirt-engine (systemctl stop ovirt-engine.service)

Copy the previously backed up /etc/pki/ovirt-engine files from above over top of the ones just generated (be sure to preserve owner/group EG: cp -a)

Drop the existing engine database: dropdb -U postgres engine
Create a new blank database: createdb -U postgres engine
Populate with with the backup of the above 3.0 database:
psql -U postgres -d engine -w < "/temp/engine.sql"

Attempt to upgrade the DBschema via /usr/share/ovirt-engine/dbscripts/upgrade.sh
upgrade.sh -u postgres

The DB schema upgrade will fail like so:

Running upgrade script upgrade/03_01_0260_add_job_table.sql
psql:upgrade/03_01_0260_add_job_table.sql:29: NOTICE: CREATE TABLE / PRIMARY KEY will create implicit index "pk_jobs" for table "job"
CONTEXT: SQL statement "CREATE TABLE job
       (
          job_id UUID NOT NULL,
          action_type VARCHAR(50) NOT NULL,
          description TEXT NOT NULL,
          status VARCHAR(32) NOT NULL,
          owner_id UUID,
          visible BOOLEAN NOT NULL DEFAULT true,
          start_time TIMESTAMP WITH TIME ZONE NOT NULL,
          end_time TIMESTAMP WITH TIME ZONE default NULL,
          last_update_time TIMESTAMP WITH TIME ZONE default NULL,
          correlation_id VARCHAR(50) NOT NULL,
          CONSTRAINT pk_jobs PRIMARY KEY(job_id)
       )
       WITH OIDS"
PL/pgSQL function "__temp_upgrade_add_job_table" line 6 at SQL statement
psql:/tmp/tmp.mXz8U4xpWr:3: ERROR: column "comment" of relation "schema_version" does not exist
LINE 1: ...ksum,installed_by,started_at,ended_at,state,current,comment)

My assumption here is that if the DB schema upgrade would work, that this should be the cleanest way to upgrade from 3.0 to 3.1.

- DHC