Given that 3rd party libraries have, in the past, been Arduino-version-specific
There were major changes needed between 0023 and 1.0.0, but relatively few between releases up to 0023 and relatively few needed between post 1.0.0 releases.
One could copy all the non-core libraries from the Arduino 1.0.x libraries folder to the 1.0.y libraries folder, if one is careful NOT to overwrite any Arduino-supplied (core) library files.
That it is too easy to screw up is why the recommendation is to NOT put user-downloaded libraries in with core libraries.