The 2016 update is excellent! Thank you INTEL!
I was using INTEL Parallel Studio 2015 with Visual Studio 2010, so i also had to upgrade to Visual Studio 2013 and therefore i was expecting issues to come at me from all over the place.
But everything went on without a hitch (one minor LNK1117 error where apparently the format of version changed, so fixed that and voila! all worked!)