I guess I lucked out. I just got v5 for ALL my waves plug ins for free. On top of that, (even though I knew how to do it myself), I personally called WAVES Tech, and had them walk me through the upgrade process, all the way from the first click on the website, to launching Pro Tools and making sure my entire Waves Collection is working fine as Version 5 in my set up. Just to make them high priced BA$TA#DS work for their money...'Cause besides this complaint you all are saying about this update thing,,, I THINK their normal off the shelf prices are just to damn high.. Like someone said earlier in this post, I do undersand the cost of R&D and stuff, but take some advice from the multi-platinum selling video games companies, and Music artist out there, THERE prices will go down dramatically (guarenteed) once they become a "major" icon in the bussiness they are in... That is passing on the good buck, and showing appretiation to the customers. But one thing I will say for sure,, is their Tech was awesome, very helpful, free, didn't ask me for a million different numbers and id's to make sure I was me,, just helped me fast, and everything worked excellently.. I have Waves Platinum Bundle, as well as the Waves IR1 Reverb all updated to v.5 for free.... and was walked through the proceedure VERY WELL.............