I currently have the regular Sapphire card. I want to convert to Preferred. Will I be eligible to get the 40K bonus?

Do I just call customer service and make the conversion? or is there a specific way to do it to make sure I get the 40K bonus.

I assume that my current UR points balance will roll forward? Correct?

Also I currently have the low end SW card. Any reason to keep this card when I get the SP? Obviously I will wait until my annual fee comes up to see if I can negotiate something. The only reason I can see keeping it is the 4 free drinks I get annually and the 3,000 annual SW points. These 2 items cancel out the $69 annual fee.