Why would you want to? Paintshop locos are dogs compared to the latest Auran and 3rd party assets. Better to clone those and reskin if you desire different liveries.
Of course, that's just my opion, YMMV.
Some of us still have a lot of older Paintshed-skinned content though, which we can't bare to part with (such as myself ).
Anyway Revans, if you still have an older version of Trainz and Paintshed installed on your system, it's a simple matter of importing the installed Paintshed-made content from your older Trainz version installation into 2010, by opening CMP and selecting 'Import Content', and then select the folder where the content is installed. I've had little trouble importing my old 04 Paintshed content into 2010 - it showed up no errors even in Native Mode ironically enough.
The hard part of this is finding where exactly your Paintshed reskins are installed. I'm not sure about other versions, but I'm pretty sure for me in 04 Paintshed reskins were saved to the 'World\Custom\trains' folder in the main 2004 folder in Program Files.
I have several hundred Paintshed based hoppers and boxcars on the DLS that I was able to turn into freestanding content. They were all made for 2010, if you want to look at how that's done.
OK i have played with it i did find the folder that it was in the only thing is that it is in a folder not cdp or a cmp file i have 2006 installed i just do not under stand why i can not get it to work