> My question is simple does IBO v4.7.16 has built in support for
> Firebird 2.1?

No. You need up upgrade your version of IBO.

> I have a Delphi application written with IBO v4.7.16 and i am planning
> on moving to Firebird v2.1.
> Is it possible?
> Should i do it?

There may yet be some of the new features with FB 2.1 that don't work
perfectly.
Otherwise, it should be fine to go ahead and move forward with IBO 4.8.

Jason