A.J.
I'd definitely keep her in the crib if she were my daughter. 16 months is still very young for her to really know what she wants.
My son who is now 4 was jumping out of his crib at 16 months so we did move him into a toddler bed then and it was rough. If she is anything like mine she would be up and out of bed every five minutes. I used to get 2 a.m. visits from my son until I put a gate up!
My 22 month old wants to do everything his big brother does too, and it is cute, but I have to set limits. I am waiting as long as possible to move him out of the crib because I am frankly enjoying my sleep and do not wish to see his perfect little face at 2, 3, and 4 a.m.!
Wait a little while longer when she can really understand that she needs to stay in bed.
But then again, the timing would be perfect with the new bed coming in. Sorry I am not much of a help. It certainly wouldn't harm her to be in a bed with rails. Whatever you do, think about really well.
A.