Calling experienced bloggers!

I'm considering doing something crazy!

I am thinking about a blog make over. And not just a new look, but a completely new blog. A name change an everything. In fact, I might leave this blog up, and just start a whole new one altogether. I'm a little bit hesitant to do so though. I've already built such a great following with this blog and I'm not sure if I want to start from scratch. 

Although I know a whole lot more about blogging now and it wouldn't have to go through quite so many growing pains, I'm not sure if it's worth losing the following.

As experienced bloggers, what do you think? 

Should I just change my blog name and design, or start up a whole new blog entirely and start from square one again? What are the pros and cons of each? Help me!!