Upgraded from Nginx 1.4.6 to 1.6.2, throwing errors

I upgraded my Nginx 1.4.6 to 1.6.2 using this guide.

I am running Ubuntu 14.04 and 2 WordPress based sites.

This is my sample config file for wp site:

server {
	listen 80;
	
	root /var/www/nspeaks;
	index index.php index.html index.htm;

	server_name nspeaks.com wwww.nspeaks.com;

	location / {
		try_files $uri $uri/ /index.php?q=$uri&$args;
		include /etc/nginx/wordpress_params.regular;
	}

	location ~ \.php$ {
		try_files $uri = 404;
		fastcgi_split_path_info ^(.+\.php)(/.+)$;
		fastcgi_pass unix:/var/run/php5-fpm.sock;
		fastcgi_index index.php;	
		include fastcgi_params;
	}
	
	location = /favicon.ico {
        log_not_found off;
        access_log off;
    }

    location = /robots.txt {
        allow all;
        log_not_found off;
        access_log off;
    }

    location ~ /\. {
        deny all;
    }

    location ~* /(?:uploads|files)/.*\.php$ {
        deny all;
    }

	# deny access to .htaccess files, if Apache's document root
	# concurs with nginx's one
	#
	location ~ /\.ht {
		deny all;
	}
}

The wordpress_params.regular file has this

# WordPress pretty URLs:
if (-f $request_filename) {
break;
}
if (-d $request_filename) {
break;
}
rewrite ^(.+)$ /index.php?q=$1 last;

I am not sure what other changes were required. Please help.