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Creo/Elements/Pro 5.0 is nothing but Pro/Engineer Wildfire 5.0 (only name has changed) where as..
Creo 2.0 is the latest offering from PTC.
major differences :
1. ribbon interface in creo 2.0 (throught)
2. easy to use (Creo 2.0)
3. more advanced features.
This document was generated from the following discussion: Differences Between Creo 2 and Creo Elements/Pro 5.0 Schools Edition