Please go ahead and try it. Some preferences are located in different files now though, so it may not work directly 1 to 1. For example, joystick prefs were previously included in the main "X-Plane.prf", but they've moved to their own "X-Plane Joystick Settings.prf".
There's no harm in trying, especially if you make a back up copy of your existing prefs in case something goes wrong and you need to reset them.