Only way you'd lose your old files from an installation is if you use your program folder as a download folder. Which is totally silly & thoughtless to choose or allow such a location.
If that was the case, then move those folders out. Install the new version, choose or create a folder in your user account documents area & close LW, then replace the new download & incomplete folder with the old ones.
For anybody updating from a version of LW earlier than 4.16 then see
http://www.gnutellaforums.com/window...downloads.html