You can start a new (level 35) character for FoV. I don't know about DKS, but presumably on the PC if you get DKS over FoV, you would want to play through the remastered D2:ED section anyway.
I have started three characters since I first got D2: ED. I finished the game with the warrior, but I stopped playing with the ranger and mage around the time of getting the battle tower on purpose, until the game is patched so that enemies 3 or more levels below you are still of some interest to fight.
