So basically you keep track of 1 version back (1 version in production). I guess if you needed to keep track of 2 versions back (2 versions in production) you would have 2 projects (plus the 1 project for the developing version) but it doesn't seem to be the nature of what you guys are doing to be 2 versions back.

The branching feature seems to be something that could help you guys as well as my company. From what I read you can have the main developing version and you can branch into another project if you need to make changes to a previous version (actually maybe create a new branch for each version???) and I think you can "merge" files between these projects so they're not disconnected, so if you make a bug fix in a previous version that is branched out you can merge this change into the developing version, at least that's what it seems to me so far, this would be great and avoid doing double work and syncs versions in a sense.