I would like to mainly use this for the PATH variable, so if there is more than 1 file with the same name in different folders I can use 1 file sometimes and the other file other times.
Try putting what you want to use in front(to the left) of the old version, i.e. if you wish to use C:\current_folder instead of D:\old_folder, simply edit the path to be
C:\current_folder;D:\old_folder;
(note the order of the entries)