You can make a fresh portable install in a separate folder for testing purposes, instead of overwriting your existing installation - no changes will be made to your existing install or to your configuration.
All settings will be carried over when installing over an earlier foobar2000 versions - do not uninstall your earlier version before installing foobar2000 v1.1.
Note that if you choose to downgrade - install an older version over foobar2000 v1.1, some settings may get lost.
Optional components (ones that do not come with foobar2000 installers) are now installed in your foobar2000 profile folder rather than in the foobar2000 installation folder. The benefits from this change are:
When installing foobar2000 v1.1 over an older version, the installer can automatically move your optional components to the new folder so they can be updated or removed from the foobar2000 application.
Note that in case of a portable foobar2000 installation, the profile folder is the same as the installation folder so your optional components are still contained within your portable foobar2000 folder.
To prevent people from running outdated beta versions, every beta version now expires after four weeks from the original release.