Ver. 1.105 to 1.110 ... Things were just getting interesting. I don't want to start over. I know I can export/import my character, but I've worked hard to get were I am in my faction.
In theory everything should work fine. Of course, sometimes features only work correctly when you start a new game. I wouldn't do it unless you notice some game breaking bugs.
I've been playing the same character since 1.105 and it works just fine with the new patch. Though I didn't notice all the new changes mentioned..might be worth it.
Why would you need to start again in the first place? IIRC there was only one patch (back in the beta) in which save games from previous versions weren't compatible.