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When i choose 'update', i am offered to remove old version or to import previous settings. I am wondering, since they are offering it (to keep old version), if there might be a benefit. I'd like to know if there is a benefit to either choice, what those perceived benefits are.. because i don't want 2 versions on my computer (takes up too much space and i should need only one) Thanks
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I think that if space is at a premium, I'd remove the old version, if not, I'd keep both versions, in case you're having any issues
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I totally agree with DaveJCummings. If you can keep the older version.
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As Photoshop continues to evolve, sometimes features change the way they work, or even removed, often due to changes from Apple and Microsoft, like with 3D recently.
If you are not going to change to a new OS, you can keep older versions of Photoshop if you need those features, and still run the latest version. The older versions "fall off the edge" of the list on the Creative Cloud desktop app, but all the ones you have will remain there. If you uninstall them, they will disappear from the CC app.
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I was going to say you can always reinstall older versions if you need, but it seems that we can only go back one version now. I can think of at least one forum regular who keeps old versions just so he can test answers to forum questions, but people mostly keep up to date nowadays. I never keep old versions now because I never seem to have issues with new versions.
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Make that two 😉