iMovie 3 chokes on iMovie 2 projects

[Mr Tea]

I've tried to open 4 iMovie projects since I installed iMovie 3.0.1, and in each case it's stalled on reversed clips and sections where the sound had been separated from the video. I've had to force quit it about a dozen times after getting the spinning beachball of death, and overall, it seems that the new version is utterly useless for editing projects created with version 2. Thanks, Apple.

[jove]

Fortunately I haven't had that problem, yet. Does the process corrupt your old iMovie 2 projects?

You can import the DV files from the old project's media folder and rebuild the projects. Yuck.

if you do not mind loosing the ability to delete or change your previously created effects then load iMovie 2 and export to full quality DV or Camera and reimport under iMovie 3. You'll have your work in full quality but in an undoable state.

Sorry I do not have any better suggestions.