socrates
I got banned!
Since I bought my router recently & has ver 7.00.1 (latest being 7.00.4) I have not yet come to the upgrading 'bridge' yet J. You will have to browse the Linksys site for more info or else send an email to their helpdesk (u might have to register ur product) to check if it is technically possible to jump from ver 1.0 to 7.00.4 & about the benefits, if any. Now to your 2nd question it is possible to transfer data as you have mentioned, but I have not tried it for security reasons, so I now use a pen drive to transfer data.