or do I have to start taking the wonderful Visa runs after it is expired ?

Thanks in advance !!

yes can you re apply for a non im O visa?

eg get from for 2005 and then for 2007? or if it a once off thing?

On what basis?

If it just a "because I want to stay in Thailand" deal you may be able to obtain a new one in a consulate of your home country or even Penang but many consulates will be leary at more than a single entry and some will not issue period.

If you want to live here and have valid reasons, such as marriage, and can meet the financial requirements you should consider an extension of stay from immigration inside Thailand rather than a new visa.