Noice, I started on 2.49b back in the day as well.
Did you check out these old games? Here
Yo Frankie was made on 2.49 back in the day 
I learnt back on 2.49 but most of my old old games were made on 2.62 before I started serious projects on 2.70+
I ended up joining UPBGE to sustain my projects in blender due to performance reasons.
Your FPS shooter is looking cool, I like the work so far.
Fred/K.S