First of all, very nice model.
Second of all, no, the newest version would make it much harder--in the short run. 10.5 has a different feel than 8.5 and it can take some getting used to. In particular, smartskin is now three-dimensional, but you can use it to drive mesh, bones, almost anything.
In the long run, I think it _would_ be easier--or at least you'd have more options. For instance, you could use a distort box, smartskin, traditional fan bones, control point weights...
Hope this helps; I know it's kind of vague.
Zach