Can you transfer your library from 1.7 to the latest version?

I'm pretty sure that you don't need to do this by yourself.
When you install the latest version it makes use of your old library.

I had lots of mp3's in 1.7 folder and the new one was different.

But you can just add folders to share Tools>Options>Sharing... if you click 'Add' you can browse for folders

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~Kath~
Always judge a person by the way they treat someone who can be of no possible use to them