Here is my summary of what I think I'm being told:
 
One way to do it (safest, in my mind):  Re-name, and save project to an external hard drive.  Then go to my internal HD and delete everything I don't want (virtually all the old related files, as I see it).  Sound right?
 
Another way is to just rename it, and Save As in the computer, then delete everything that had been generated (my saves, or Auto Save).  If This is correct, I think I would prefer the ext. HD best.

Just try this little test. Say your project is named "Black Dog.cwp".  Click file, click save as and change the name to "Black Dog2.cwp". You'll see at the top of the window the audio folder and the original title "Black Dog.cwp". These are safe and will still be there until you delete them. Now click "copy all audio with project". Below this is "project path" and "audio path". Make sure they say "Black Dog2". Click save. You should now have two separate projects. Black Dog will have all of your audio files while Black dog2 will only have the current audio you see in your tracks. Now you can do whatever you want. Backup to ext. HD is always a good idea, but you could delete Black dog and it's audio folder now if you wanted to. I wouldn't until the project is done...if it was mine.

Double post...

Triple post....

Quadruple post....this forum software needs X2b!