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Will my domain remain free, or will the new content plus new IP address make it seem like a new site subject to sandboxing or other hold ups in getting re-indexed?
The content change will cause indexing changes without a doubt and may help or hurt serps, you only really know after it's done.
One big issue to consider is your current search results, if you are getting alot of organic traffic to pages that will not exist any longer after the change, you will want to settup some 301 directs to some of your new pages, preferably ones that match the KW's that are used to find the old pages.
As an example; if you currently have a page about blue widgets at example.com/bluewidgets.htm and the new site has a page example.com/blue-widgets.html, you should redirect. This will help the new page get indexed quicker and may allow you to keep your search results intact as well as keeping that organic traffic flowing.
M