Removing Old iWeb Site?

I have a 2 year old website built on an old version (?.?.?) of iWeb. It is not a very well developed page, so, I'm going to build a new page using iWeb v.3.0.3. How do I get rid of the old website? By trashing the old site, username->Library->Application Support->iWeb->Domain? I'm assuming that would be the thing to do! Am I right?
Or will that just be making my life more difficult, is there a better/more proper way of doing this?

An Anticipated Thank You For Any Help