Hi Jack,
I can understand your frustration.. 😉 We had a thread complaining about the changes when it was first introducted. Now that I'm used to it, I wouldn't go back.. 🙂
However, you can keep all versions of Labview installed on the same PC, meaning that Labview versions 7.0, 7.1, 8.0, 8.2, 8.5 can all happily co-exist on the same PC. The benefit is that you can use the original version that you developped your code and continue to enhance the code using the original version without having to adapt to the newer version. However, going up versions should be compatible, unless you are adding new features.
There is one catch in what I described. And you must keep a backup copy of your code. If you open an older version using a newer version and save it, you cannot open it again in your older version, unless you use Save As Previous. For that reason, it is best to keep an extra copy somewhere (which is always good practice anyway).
Hope this helps,
RayR