Hi DCOMMAND,
There is Upgrade Patch available to V2 Build 2005.0 available. I didn't play much with it so I can't tell more.
I've performed upgrade installation from 2004.7 to 3000.1 (just installed it over previous version) and found that everything was in place like Content, Schedules, Devices. But I would not recommend 3000.1 for production as it is not stable version.
Regards,
Ivan
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Ivan Sabolovi?, DSCE
Digital Signage Consultant
www.mundusdigitalis.com