Yes, the V1 will maintain all the functions it has before the upgrade. You will be able to scan AND tune your already licensed PCM with both V1 and V2. Really, you are only transferring selected unused licenses. It is "copying" (a better word) the USED licenses from V1 to V2. So it will still be on your V1. You will just no longer be able to add new unused licenses to your V1 after you run the transfer/copy utility that comes with V2. Make since?