Thanks for the input Craig. I seem to recall a couple years ago that there was a file format change for the modules and footprints. That was my main concern. I also recall people mentioning scripts that could be run that would convert one type to another. I do not relish the idea of redrawing all of the items we have in our libraries. Luckily, a great number of the parts share the same footprint, such as 0805, or soic-8.
I also was thinking along the same lines as you in regards to an isolated install. I planned on copying our current libraries over to a non-networked laptop and trying it from there.
Thanks again.
-Albert