Inheriting Final Cut Pro 7 projects

I find myself in an interesting situation.

I am currently looking at a documentary project which has been started on by another editor, with a view to give feedback and possibly take some days to work on it myself. The work done so far has been in Final Cut Pro 7.

My current FCP system is 6 (Studio 2). I have had no real need until now to upgrade to Studio 3/ FCP7. Firstly I couldn't afford it, and then I was in a long-term contract (well, 1 2/3 years counts as long term in this business) elsewhere - by which point they brought out a new "update".

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