Of course. At install you choose manual partitioning and edit the partition your /home is on so it is mounted as /home. DO NOT FORMAT!!! then install as usual. If you are doing a fresh install from feisty to say gutsy you will have to either upgrade to kde3.5.8:
http://kubuntu.org/announcements/kde-358.php
before hand. Or you can backup all your configurations for kontact, adressbooks, kalenders, kmail, etc in /home/yourusername/.kde/share/apps to another folder like configsold.
Then delete./kde and restore your backups to the new .kde after installation.
Good luck
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