character_set and collation in new server

[Matias Rossi]

Hello, I have to migrate the data from my old server with MYSQl 4.1.12 to my new one with MYSQl 5.1.49-3. I saw the character_set and collation in the two servers and they are different, like this:

VER 4.1.12 (old Server)

+--------------------------+--------+
| Variable_name | Value |
+--------------------------+--------+
| character_set_client | utf8 |
| character_set_connection | utf8 |
| character_set_database | latin1 |
| character_set_results | utf8 |
| character_set_server | latin1 |
| character_set_system | utf8 |
+--------------------------+--------+
+----------------------+-------------------+
| Variable_name | Value |
+----------------------+-------------------+
| collation_connection | utf8_general_ci |
| collation_database | latin1_swedish_ci |
| collation_server | latin1_swedish_ci |
+----------------------+-------------------+

VER 5.1.49-3 (new Server)

+--------------------------+--------+
| Variable_name | Value |
+--------------------------+--------+
| character_set_client | latin1 |
| character_set_connection | latin1 |
| character_set_database | latin1 |
| character_set_results | latin1 |
| character_set_server | latin1 |
| character_set_system | utf8 |
+--------------------------+--------+

+----------------------+-------------------+
| Variable_name | Value |
+----------------------+-------------------+
| collation_connection | latin1_swedish_ci |
| collation_database | latin1_swedish_ci |
| collation_server | latin1_swedish_ci |
+----------------------+-------------------+

So, until I restore the databases I have to update the character_set and collation in the new server so it look the same? or I have to live like that and restore the backup? I would have any problem then with the information stored in DB?.

Thanks.