Good day rrbobby,
It has been well advertised for a very, very long time that paint shed would be dropped after 2006. In fact this topic has been flogged to death already. While items created or modified using paint shed will still "function" in later versions, it will take a bit of effort since paint shed uses .pm mesh files which are not supported in native mode. A utility is available to convert the .pm format to .im format and you must edit the config.txt to point to the .im instead of the .pm.
In addition most items created in paintshed use older dependencies such as bogeys and on some they are not even animated and need to be replaced in the config.txt to add an animated bogey.
Don't simply drop 2009 (and for those planning on 2010 or later versions) but learn how to reskin. Reskinning is fairly easy to accomplish and there is a lot of information available in this forum as well as on Trainzdev. Do a simple search for reskin and you will get a lot of help. These forums will point to all the required tools and tutorials you will need.
Don't give up! Have fun!
Bricey