I need help. I just opened my wallet today for minting and noticed that it's not syncing anymore. Then I saw the mandatory update to 1.7 wallet (i'm on 1.5 now) in OP and need your help. I'm a tech newb and I'd appreciate if anyone can take me step by step process on how to update wallet. Safest method will be appreciated. Thanks in advance!
yes, some people have the same problem with you, and one of many methods is that you delete all other files except wallet.bat.
that is to say, you should backup your wallet.bat, and then delete all other files. Try this method, and you may have a wonderful result.
Best wishes to you.

I advice you guys to resync with blockchain if you experience any issues with 1.7. I did it as well.
Dont worry about if it loads long time on boot up. It works nicely after it loads.