How to upgrade magento 1.4 1.1 to 1.7.0.2

I have a magento site in 1.4.1.1.

Now i want to uprgade the site to magento 1.7.0.2.

I already did the following steps:

1.system->magento connet->magento connect manager
2.Then i enter the extension key as "magento-core/Mage_All_Latest"
3.Then pressed "Check for Upgrades" button.

now my window is bleow:

Then what i do next?

So how can i do the upgarde using magento connect manager?

How can i upgarde the magento site ?

Anyone have the solution?

My magento site in localserver.

EDIT: