What do you mean by update? There is some backwards compatibility for DTS in SQL Server 2008 but it isn't perfect (some of our packages had apostrophes in the name and the 2008 designer wouldn't cope with them). Microsoft article here :http://msdn.microsoft.com/en-us/library/bb500440%28v=sql.105%29.aspx
MS would rather you turned them into SSIS, are you looking for a tool to do that for you?
Outline a little more clearly what you're aiming to do and I can be more specific in my help.