Does anyone know why Powershell 2.0 is installed in C:\\Windows\\System32\\WindowsPowerShell\\v1.0 on a Windows 7 box?
I think because PowerShell 2.0 is extremely compatible with 1.0, there was no need to have two different versions on the same machine. So they put 2.0 over top of 1.0 on XP and Vista systems and most likely decided to keep the same directory for Windows 7. This is also the same reason the extension is still .ps1 (and .psm1, .psd1).
You could ask the same for Windows 7 x64. Why are the 64-bit system dlls in a dir called System32 and why do those same 64-bit dlls' names end with "32" e.g. user32.dll, kernel32.dll, etc. :-)