If your old Software does challange an special / old Version of IE, you can fulfill that requirement without another Virtual Maschine by installing IETester.
http://www.my-debugbar.com/wiki/IETester/HomePage
I would loved to had known that Software a bit earlier.
I ran into serval problems in upgrading an Zyxel 2000W Wlan Phone by using Win7 with Firefox 3.6 / IE 7.
I couldn't find the "Browser for Upgrade File" bar, so I tried everything on the net, including Chrome.
In the end, I used an Virtual PC / Windows 98SE(!) which I keep handy for... stuff - and could upgrade the phone.
Tag: Internet Explorer
[CCNA] Cisco Networking Academy Material Error
If you open CCNA Material in the Internet Explorer, it does always Popup the Error that it doesn't want to execute these Scripts as they might be dangerous. You can click that away and work with the Course Materials - but it just tends to go on to ones' nerves. So to disable that: Internet Explorer, Extras, Internet Options, Advanced. Look for Security and enable "Execution of Interactive Content within Files on local Computer" and "Execution of Interactive Content within CDs on local Computer".