Can I have two levels of WP?

I currently use WP 1.5.2 for a recipe blog that I have (www.recipesfromgrandma.com). It does everything I need it to, so I would just like to keep it at that level. I am not very technical, and I when I look at the instructions on upgrading, I think I would just as soon keep it at 1.5.2.

I am going to create another totally unrelated blog. Can I just install WP 2.0.4 and not worry about it overwriting my WP 1.5.2 program and files? Any advice?

Thanks. Jeanne