The Unified Modeling Language (UML) is the accepted standard for object-oriented modeling across the software design industry. Version 2.0 of the UML represents a major new revision to this standard and includes many changes to the current industry state of the practice (UML 1.4). These revisions include the removal or renaming of some existing features as well as the addition of several new capabilities. As tool vendors and software engineers begin to adopt UML 2.0, there is a potential to greatly impact legacy systems and practitioners employing UML 1.4. This report aims at providing an understanding of the changes made in UML 2.0 and their potential impacts, both positive and negative, to the UML 1.4 modeling community.