There will be an in-place upgrade wizard going from TFS 2010 to TFS 2012 & TFS 2013. It is also an upgrade going from 2012 RTM to Update 1 and Update 2, and beyond. More below**
Here's how it will work:
- Go into Add/Remove programs
- Uninstall TFS 2010 - not required in 2012 RTM and beyond
- Run the install for TFS 2012
- When the wizard launcher comes up, choose upgrade.
- Select your database (Tfs_Configuration) in the db picker, accept all the defaults, next, next.
- You're done.
//Build conference CTP is out there so you can play with it.
Since you're looking at 2012 TFS product, make sure you checkout the new TFS in the cloud. You can try it out @ http://tfs.visualstudio.com/ for free without deploying your own.
EDIT:
The team is working on a blog with step by step walkthrough here: http://elhajj.wordpress.com/
It's also included here: https://www.smashwords.com/books/view/181289
Note that when you go from 2012 RC to RTM (and beyond), the uninstall step will not be required. You just run the setup of the new version.
EDIT: give it a shot. http://www.microsoft.com/visualstudio/11/en-us/downloads#tfs-group
Also note the addition of the TFS Express sku which is a free version of TFS which uses SQL Express.
2013 preview is available. Same story. Here: http://www.microsoft.com/visualstudio/eng/2013-downloads
** TFS has gone to a cloud cadence where the service (tfs.visualstudio.com) is updated every 3 weeks. Those rollup into CTPs for shipping quarterly updates. So going to a quarterly update on-premise is an upgrade. Remember that it contains rolled up features from months of product development so you are doing a forward only upgrade of the DBs (backup and restore is going back). So, it's not a trivial patch - it's an event but you get the value and are closer to the cloud feature set.