At the company that i work for we are currently running AutoDesk Vault 2009 and AutoCAD 2011. My boss has currently tasked me with finding a way to create a secondary database for storage historical files.
Is the intent here to create a "Released" vault and a "Work In Progress" Vault or to archive all your old projects?
It certainly is possible to have more than one Vault and you can "get" files from one Vault and "load" into the other but this is a bit of a tedious project and fraught with potential error. It may end up being simpler and cheaper to look at upgrading you VW, VC or VP to get access to document management which allows you to track "released" files and purge WIP periodically.