Final Cut Pro 7.0.3 and 10.8.3

Hi All,

I am having a few problems with moving from snow leopard to mountain Lion.

I currently use FCP 7 on 10.6.8 which is working fine. Last week I got a different Mac Pro and want to run 10.8

When I install FCP on 10.8.3 I need to run the pro apps update to patch FCP to 7.0.3 . After running the update I can open FCP and make new projects but can not open any of my FCP projects created in 10.6.8

When I click to open them I get a spinning beach ball and FCP becomes non responsive forcing me to quit the process from Activity monitor.

FCP on my old machine is showing as version 7 ( not .0.1 etc) would this have anything to do with it? I dont want to run the update on my 10.6.8 machine incase it renders the projects un usable on there as well.

I have read that FCP 7.0.3 is not good with 10.8.3 and works better under 10.8.2 . Does anyone think this is true.


Any help would be amazing.

Thanks

Dan