[WebDev] Best way to version major upgrades (no replies)

I currently develop both windev and webdev (from a common separate project model).

I am about to start a number of upgrades and new modules for the webdev project - and I'm not sure about the best way to version webdev.

I can either simply clone the project and keep production and development separate - or create a new configuration in the current project.

Any opinions, advice, caveats on either approach?

Thanks

DerekM