I've not done a direct 0.8->1.1, but 0.8->0.9, 0.9->1.0 and 1.0->1.1 all without a wipe, so I think you'd have a good chance of getting away with it.
Take all the titanium and nandroid backups anyway, and if there is a problem you can always wipe and restore apps from Ti, but my guess is that it won't be needed.
From my experience if you have to wipe and restore you'll probably have to reinstall your widgets one by one - last few times I did that it left a lot of placeholders with the message "problem loading widget", so I knew where the widgets went, but that's all.