Not sure what you mean (it is not like the old days, where EBFs could be a small set of binary updates only). It is a full binary install, which overwrites the binaries (so take a backup of the directory) and updates master, etc. But it is not a full install in the sense of building a new server.
I opened a case with Sybase, and found the release notes on this EBF are incorrect. It's a standard binary overlay. The notes state, that you can only do a binary overlay if you are on ASE 15.0.3 .. that is an error, and they are correcting the documentation. Depending on which document set you look at it states yes and no .. but the answer is yes. What I did find is that the ASE 15.0.3 upgrade requires an AIX patch to ML7. So, I'm waiting for the unix sysadmins, to do that so I can proceed. Thanks for the interest.