standard procedure is to overwrite. The problem is, if you remove the package from your system, nothing will work that is compiled with shared library support ( which is most things ). 2.3.3 isn't that old, why do you want to upgrade?
if you want to see what will break (
) if you remove glibc, run ldd < command > to see what libraries that command needs to run, for example lets take "ls":
:~$ ldd /usr/bin/ls
librt.so.1 => /lib/librt.so.1 (0x40026000)
libc.so.6 => /lib/libc.so.6 (0x40038000)
libpthread.so.0 => /lib/libpthread.so.0 (0x40167000)
/lib/ld-linux.so.2 => /lib/ld-linux.so.2 (0x40000000)
ls needs libc.so.6 (glibc) so ls will no longer work. you might be able to upgrade (rpm -Uvh) and it work ok just make sure you do not rpm -e glibc.