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Me and my friend, Colonel Dakura got into an arguement over this not too long ago.

So here it is:
If you upgrade the Templar Dreadnought to be Venerable, does it use the BRB entry for Venerable Dreadnought or does it remain a standard Dread? Me and most of the others in my club believe it does because we haven't found anything that says it doesn't become Venerable and common sense dictates that as soon as you upgrade it to become Venerable, it uses the entry that has the same title.

Check your FAQ's for Black Templar, you might find a surprise in the Question section.

Does venerable in that codex not just give you some special rules rather than up your stats?

http://www.games-workshop.com/MEDIA_CustomProductCatalog/m2940040a_Black_Templars_v1.2_JANUARY13.pdf

Page 35 – Dreadnought, Venerable.
Change the third sentence to: “If a Venerable Dreadnought
suffers a penetrating hit, you can make your opponent re-roll
the result on the Vehicle Damage table”.

Page 35 – Dreadnought, Venerable.
Change the second paragraph to read: “A Venerable
Dreadnought may be given either the Furious Charge or
Tank Hunter special rule for +10 points”.

And: Pg.7 Black Templar FAQ

Q: There is no Black Templars vehicles reference section at the back of the rulebook. Does this mean I should use the Codex: Space Marines vehicle reference section instead (meaning my Venerable Dreadnoughts are now Weapon Skill and Ballistic Skill 5, for example)?
A: Yes

Thank you Voidzone, I hadn't noticed that.