Support for IES lights and rectangular area lights allowed architects to simulate real-world lighting fixtures.
Works with SketchUp 7 and 8 (will not run on SketchUp 6 or lower). Why You Should Consider Modern Alternatives Vray 1.49.02 for Sketchup
Allowed users to utilize multiple computers on a network to speed up a single render. System Requirements for Legacy V-Ray (1.49.01) Support for IES lights and rectangular area lights
Despite being a legacy version, the features found in the 1.49 era laid the groundwork for the modern V-Ray for SketchUp workflow: Vray 1.49.02 for Sketchup