David Passell reports: I recently installed iPhoto 11 (version 9.2.1). Compared to the 7.5.1 I was using it is a monster app. 1.2GB vs 189 mb. CAUTION: When opening, it UPDATES your iPhoto library so you can't go back. Before running it, I saved the older library to an external drive (89 GB 6 hours) just in case.
Now, replying to my question David explains, "I backed the old file (iPhoto library) onto a My Passport 500GB drive that I use on the Dell PC. Actually I can view some (but not all) of the pictures in the library on that Windows machine.
"I kept the old iPhoto 7.5.1. I had to use Time Machine to retrieve it. One annoying thing: When I purchased/downloaded the new iPhoto it updated iPhoto 7.5.1 to the new version, but kept the old name I had given it. I can't change the name; so even though it appears as 7.5.1 in the Applications folder and on the dock, it is the latest. If you want to keep your old version of iPhoto be sure to 'save' it in the Trash or compress it before you update."