My answers here are for CVI 6.0.
1. In CVI 6.0 using the MSI installer that shipped with it, you can make a distribution kit of release and debug versions. I use distribution kits for debug versions if I need a quick fix as an interim release. When I get the time to do more testing, I'll build a kit for the release version.
2. As Chris says, all Target Settings except the Application File are common (_dbg automatically gets added in the debug version). You can change the Target Settings (including the Version Info) manually when you switch between the Release and Debug versions.
3. If you save your project under a new name (using File >> Save Project As... in the project window) , you'll get a new GUID when you build a distribution kit using the new project. Rat
her than updating two projects with every change, do all your development in one project. Every time you're ready to release both versions, do another File >> Save Project As...
3 (second 3). You can make the application file names the same for the release and debug version (just manually edit the Application File name in the Target Settings window), but you might want to keep them different to make it more obvious what the difference is. You could choose to make the names the same and put them in different directories.