Biting the upgrade bullet... but just want to check first...

Hi all
So I think i need to upgrade to Studio 2.
I just looked at a cut of something using the same format we shoot on (HDV 1080i) but covered to prores.. the results were the nail in the coffin.
However, I just want to check... my G5 and Final Cut Pro 5 are both second hand. I have the original FCP5 discs, but not the G5s system discs. Is there any reason I can't just get the upgrade from Studio 1 package?
Also - if you do the upgrade package, does that essentially delete version 5? as in - can I have both versions on the same computer? I ask because I share some version 5 projects with other computers that don't have 6 yet and don't want to shoot myself in the foot..
cheers
hugh

I agree that having two versions in the same machine is not a good idea, I wouldn't want that .
Installing a new version of FCS would overwrite the previous one though (Thanks Shane for confirming this in the past).
I know there are some people who use several versions of FCP in the same machine however here is Apple's point of view on the matter:
http://docs.info.apple.com/article.html?artnum=305389
Remember that you can always export your projects as XML in order to work with them on different machines and FCP version.
http://developer.apple.com/appleapplications/fcpxml.html
Although I back Jerry's suggestion to erase and reinstall OS if you prefer to uninstall just FCP before installing FCS2 here is a useful link for you:
http://www.digitalrebellion.com/fcs_remover.htm
Cheers,
G.

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