The main suggestion I have is to stop all TSM related services prior to doing the upgrade. Otherwise, it will respond, at the end of the upgrade, and say you have to reboot your server. A reboot isn't necessary, from what I've found. I just got through upgrading 500+ Windows servers, including a dozen clusters... or so. This was an upgrade to 5.3.0.8.
Oops. I've edited this response 2x already...
One more thing... start the gui after the upgrade. Don't start the service, yet. There's a new feature with 5.3.0.8, at least. If TSM suddenly decides that it doesn't like the log file anymore... it won't run. Start the gui and see if it errors out. If it does then rename the log file(s), if you want to keep them, and start the gui again. TSM will create new log files that it likes. THEN, you can start the services back up.
Paul