Convert Project vs New Project / Import

Hi,
I currently have both PP CC 7.2.2 and 2014 8.0.0 installed on my Win 7 Pro machine, both of which have been running smooth and I personally haven't experienced and issues with 2014 8.0.0 - yet.
Over the last several versions of PP since about CS5 or so I think, I keep occasionally seeing messages where a user might have opened an existing project file that PP has "converted" to a new project file and might have performance issues. I often see responses where someone will say "Make a new project and import the old one"...or something to that effect.
Over the last few days I have let 2014 8.0.0 convert some of my existing 7.2.2 projects files. I would then do various test exports, work in the project, etc.
I then created some new 2014 8.0.0 projects and imported the 7.2.2 projects, and again, did the same test exports, etc.
I can't really find a difference or see a varying performance difference in either of the project files.
So my question is this....What is going on "under the hood" so to speak when the new(er) version of PP converts an existing project file (no matter the version number) to the newer version of PP versus creating a new project file (in the new version) and importing the old version?
I have hundreds of project files and I always like to convert them to the current version of the software so after several versions pass I don't get the "project is too old to convert" (which has happened to me in AE before).
So I am debating should I just let PP convert them or is there a benefit / performance difference to creating new project files and importing the old ones?

An event contains your media, your clips, video, audio, graphics. A project is your edited program. You can edit media from any event into any project.

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