Just as a note: I upgraded, and there's no problem keeping a separate P4 installed. The sub-folders are great. I guess you could set them up in your old P4 Runtime folder and they'd show up in P5, once you switch over completely to P5 and won't be accessing the files from P4 anymore (where the subfolders won't show up). Even after I get up to speed with P5 I'll keep P4 for product testing, so guess I'll leave the old Runtime as is for a while.