Unfortunately this is exactly what you MUST do if you want the customer and order data brought across. You can always do a "backup" of your TEST db (1.5.x), "export" the changed product data (using something like EasyPopulate on 1.5.x), restore the LIVE db (1.3.8) over the TEST db (1.5.x), run the db upgrade, and "import" just the saved "product" data....
This should work unless you have changed product IDs or attribute IDs... I'd make sure you make plenty of database backups to make sure nothing is lost if something does go wrong...
See
this article for more details on upgrading Zen Cart (especially step c under "how do I keep my live store running")