1. A data acquisition (DAQ) system, comprising: a computer system including a CPU, a system memory, and a nonvolatile memory; at least one data acquisition device coupled to the computer system, wherein the data acquisition device is operable to generate/receive data; a separate hardware database stored in the nonvolatile memory of the computer system which stores information regarding a plurality of DAQ objects of which only a subset are installed in the DAQ system; one or more configuration files stored in the nonvolatile memory of the computer system which each store a configuration of the DAQ system; a configuration manager stored in the system memory of the computer system which controls access to the hardware database and which controls access to the configuration files; at least one user application stored in the system memory of the computer system which is executable by the CPU to perform a data acquisition function in the DAQ system, wherein the user application calls the configuration manager to access information in the hardware database, wherein the user application calls the configuration manager to access information in the configuration file; wherein the hardware database is operable to be updated with new information regarding additional capabilities of a DAQ object, thereby producing an updated hardware database; wherein an existing configuration file created before the hardware database is updated with said new information is operable to access the new capabilities of the DAQ object from the updated hardware database.