I've just read about this and there are a lot of people saying they had significant downtime during upgrades ([1] one such story, but there were quite a few on stackoverflow etc).
I'm going to run some tests myself to see how well it works on my existing data (only 30GB at the moment, but it was only 20GB a month ago and is growing fairly rapidly).
[1] https://inopinatus.org/2016/02/16/notes-from-a-postgresql-rd...