What I have done is to download the various patches from all the various UFT versions. I thenkept them on my hard drive, but I also saved them to a Zip drive and put them onto a CD-ROM. This way I have a way to reinstall UFT at some future date, if I want to, to another computer.
However, just make sure you backup your data to the hard drive and to a floppy, Zip, etc. This way, if you convert your project to some other program and it screws up the project in some wierd way, you can edit it in UFT and try again.