How do I load 2 versions of FCP?

I have FCP studio 2 and bought the 3 upgrade. I have 3 on one machine and c2 on the other. When I get snow leopard, I am going to do a clean install and put 3 on both machines.
Trouble is, I have video tutorials for FCP studio 2 and still want to do a little learning in motion 3 and STP.
With an 8 core mac, can I install 2 versions side by side, or should I take one of my 4 drives, put an OS on it and install FCP2, boot to in when needed?
Which is the better way?

did you put previous versions on other HDs or the same HD with a partition?
I had them on the same partition. I just moved the application out of the APPS folder and renamed it like Final Cut Pro 4.5, Final Cut Pro 5.1.4...and so on. But when FCP 6 came along, I could no longer do that. So I had two boot drives, so that I could wrap up other projects.
but how do you like the MX02?
Love it. Lightweight...works on my Mac Pro and MacBook Pro. Captures ProRes 422 on my laptop with a small firewire 800 drive attached (something Matrox doesn't support, but it works for me), able to upconvert SD to HD, downconvert...Great box. Fits in my backpack with my laptop and really allows me to be mobile.
Do you move it between an MBP and mac pro?
CONSTANTLY.
Shane

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