Questions about 3DS to 3DS XL System transfer

So here in a few days I'm getting a new 3DS XL, And I need to know a few things.

When I turn on the new XL, do I have to perform a system update, so it's up to date? Or will it be updated after the transfer?

In my soon to be old 3ds, I have a 32GB SD Card, while the the soon to be new 3DS XL, will have a 4GB SD Card. I obviously want my 32GB in my new XL after the transfer. How do I do that?

And after the transfer, the old 3ds will be set back to factory settings, correct? And will that take off things like, eShop information, parental controls, and internet browser data?