There are two kinds of blow-in stuff at my HD. Recycled and fiberglass (white/pink)
The recycled cellulose stuff looks like ground-up newspapers and blue jeans. I've blown my own and another attic in with this. It's really, really dusty, but other than that the results were good.
This year I helped a friend out with their attic, and HD had started stocking fiberglass. The fiberglass stuff was super light, completely dust free (I mean
completely), installed faster, and cost just about the same.
If you have a choice, it's a no-brainer.
You will definitely love doing this.
My only real contribution to this topic is this; If possible, yes you should remove your old insulation. It won't physically hurt anything being there, but flattened or crushed insulation will diminish your R-value
Only if space is a limiting factor - R-value is cumulative, just figure out what you want to add, and therefore how much product you need to get up there. If you have sufficient space already, there's no reason to remove the old product, as this will be extremely messy and time consuming.