Those who have purchased Quicken by download from Intuit recently already have version R2. Check "About Quicken" in your application to be sure you need this update. I used Quicken 2004 from 2004 to my purchase of 2007 just recently--downloaded and installed without any problem, and converted files without any problem. I haven't noticed any particular improvements, but I don't use the application for online banking or for checkwriting--just as a personal bookkeeping and check reconciliation method at present. Quicken is a good dependable application that backs itself up and does all that I want it to do flawlessly--so I keep on buying it, and recommending it to friends.