I would just create a new one and copy the documents across (if
practicable of course do this creation using a Template from a 'Save
Library as Template with content' operation) and bit the bullet on
losing versions.
If versions are important to you you might want to look at stsadm instead.
P.S. Always say which SP product you are asking about - we can't guess
here because all products and versions have document libraries (and this
newsgroup is for all SP products/versions)
Mike Walsh
WSS FAQ www.wssfaq.com / wss.collutions.com
no private e-mail questions please