I installed the Windows 64 bit .16 version over the .14, though not in C: but in a different drive. When I do this, the copy of the blockchain is deleted and I have to wait an hour for the database to build again. After this is done, my wallets are completely gone and I can't seem to find a good way of getting them back easily without resorting to paper backups. I'm not sure if this is default behaviour, but I can imagine this will scare the shit out of some people.
Edit: to clarify, it was originally installed in C:, the second time in a different drive. In both cased I had symbolic links made in AppData\Roaming\ to both the Armory and Bitcoin folders, located on a different drive. Oh and for some reason it takes about 15 minutes for Armory to get the database build each time I start it.