Don't feel bad! I haven't been using VBox for some time now and once you let a vm sit idle for too long you end up needing to remove one to see a new replacement!
This latest version is now seeing additional parts likely to update support for things like usb but will take some getting used to. The VMs you had will likely need to be replaced with new ones to accomidate the changes seen with the updated version.
I'm trying to get the first VM on the latest VM Player 4.0 to take at the moment. The first attempt seems to have stalled completely. But the distro going on is a bit larger about the size of Knoppix being Linux Mint Debian.
Everything is detected automatically however. Flash drives, external hard drive enclosure, usb printer, etc. along with the other host drives and hardwares. I'm favoring this over VBox for the alternative already having the support already integrated into it.
Later I will be giving this VBox release a much closer look and glad to hear you got past the usb part of it. You should be able to get through the sharing part too once you get past the new feel of the program.