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You just don't import any of the music on your hard drive, which is an extra thing you can do after you've installed the new version.
Second question - what's the point in upgrading it anyway? I just posted a playlist to my Facebook without any issues, so what are the advantages of the new version?
being able to send tracks/playlists to people through spotify itself, if you're not going to be using it to play music off your hdd that's about it. Hopefully the 'local files' will be updated soon to have multi-windows so you can view artists like in winamp, as there's no organisation to it at the moment, just a massive list.