Hi
No need to change the location of your old files.
I still have all my files in my 1.7 folder.
Just change the settings in LW so that it saves your new d/l files to that place and shares from that same place (or wherever you want it to be)
Tools>Options>Save..you can Browse to find the location you want your files saved to. Just click on that folder.
In Tools>Options>Share you can ADD as many folders to this as you like. All the files in those locations are then shared, and will show up in your library.
Good luck