I haven't done it so I can only go on what I have been told and seen on other games on Origin.
But, yeah, pretty much, you get all the DLC and get to keep all saves and such. Sometimes you may see a second icon in Origin library but it doesn't usually effect anything other than adding clutter to the Library. If it is on sale, it is often cheaper to buy the GOTY instead of buying the DLC pack(which rarely goes on sale).
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I am NOT an EA employee, I am just a simple gamer like most everyone else here volunteering my help to those who may can use it .....That means I have to pay for my games just like you, lol.
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