If you plan on running the new version of the software from the C: drive still, then install the new version 'Over' the old version. Don't delete it prior.
Pay attention to the questions the Installer asks along the way, like 'where do you want the realtracks located' .. this is where you can save space on C:\ and read those from the external drive if you want, as many do.
If you have room on C:\ and all the realtracks were there before, then go ahead and put them there again. Mimic the previous install but install 'Over' the previous version so you don't lose any previous XtraPaks and such.

I agree with Matt, I try to keep at least one external drive current as well as one internal drive system current.



Make your sound your own!
.. I do not work here, but the benefits are still awesome