Should I trade my 01' Giant OCR 1 for 07' OCR 3?

I've got a 01' OCR 1 size M. We've detemined it's to big and I needed a SM, i've rigged it up with a threadless stem adapter and shorter stem to accomodate the reach but it's not where it needs to be. It's not extremely uncomfortable. It's got the 105 groupset and in mint condition. I've got a trade offer for a SM 07' OCR 3, obviously it's a newer bike but the groupset is SORA, etc...

Is it worth messing with?

Look for a size small OCR frame and fork and swap the parts. OR ......
Fit is the most important thing and the group is essentially a consumable item. If ya can't take the Sora shifters, swap for 105..ebay is your friend.

Ooorah(not in the USMC but retired from your big brother, The USN)

Couldn't agree more - fit is so important. I rode all my junior years on bikes that were too big. When l finally could afford it i got the right size frame and now l never want to get off it. I still get sore after a long ride but I feel very comfortable, balanced and more in control on the proper fitting frame.