Backup the database file in the Calibre folder (I'm not at home, so I don't remember the exact name - maybe "metadata.db"?). I know at least a couple of the Calibre updates changed the database structure and couldn't be automatically rolled back. So if you thought you might want to rollback to an older version, keeping a copy of that database is a safe practice.
Also, What operating system are you on? I believe WinXP folks have to stop at 2.0 or thereabouts, or risk it stop working. If you use WinXP, you might want to search in the Calibre forum.
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