Using Content Profile

I'm interested in using content profile, and I have at least 2 profile roles/node types I would l like to create 'standard user' and 'faculty user'. I have been running a drupal site for about 2 years now, and am curious how the process would work if I add content_profile to my site at this point.

I am also curious about running two different profile types. Can I 'upgrade' a user from my standard user type to a faculty user? Will the profile data be transferred to a new node for the type of user? Has anyone dealt with a similar situation? If so, how did you implement content profiles?

I also want to point out that I am using LDAP Integration module using ldapauth and ldapdata to currently populate some of the current drupal core profile fields I have created.

Any help in understanding how to best add content_profile to an existing site would be very helpful.

Thanks in advance for any advice.