Currently Embarcadero offers to upgrade to Delphi XE5 or C++ Builder XE5 from any older version.
I think that you must update to XE5, specially those still using older versions like Delphi 7 or Delphi 5. Since I’m maintaining most of the free components migration is easy.
Have a look at RAD Offer:
Upgrade to XE5 from any earlier version (Upgrade price from any previous version).
Bonus pack with up to $1,150 in free software.
Step up to Ultimate Edition Free from Enterprise.
Get a free C++Builder iOS upgrade when you buy qualifying C++Builder XE5 or RAD Studio XE5 tools.