Update: I've been using using Collada format to import drawings from the 3D Warehouse. That often yields ugly and difficult to edit components so it is not a great solution. In another thread, LBD told me about an extension that you can add to older versions that will import and convert drawings downloaded from 3DW in a current Sketchup version to the older one. I gave it a try last night and it works well. This is a great tip so I thought that I would pass it on. I am a little surprised that Trimble allows this extension on their website since it might tend to reduce the number of people that are forced to pay to upgrade to a new version. I will update the OP with a link to the extension.
--Nathan, TX. Hire the lazy man. He may not do as much work but that's because he will find a better way.