Use of same material in different projects, +

Havevupgraded to 10.1 but haven't opened it yet. Have the old 10.0.9 in another folder. The Ripple Training vids are great but don't cover everything. A couple questions:
1) If I update the events and projects folders, and then later want to update the archived folders will it include them in the first library or does it create a new library?
2) Can I use media in different libraries without having to copy it to the library the project/sequence is in?
best,
elmer

I think these questions were answered in the other thread.
Russ

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