It will improve your HDL and triglycerides ratios I would expect. Some do find an increase of overall cholesterol, however the majority see improvements in cholesterol. All depends on your individual metabolism.
Reducing carbs is positive, eating dietary fat is positive if you stay awake from manufactured fats and eat natural fats wherever possible.
Regarding being upset, we've all been there, Im a bloke and I cried on and off for a while too. I was overwhelmed by the dietary changes I needed to make but it's doable and enjoyable too.
I no longer miss all the things I used to eat and despite hating salads and veg all my life, I've adapted well in a short space of time.