CS3 prproj files in CS5 ?

Question

While extensively searching I see contrary information which puzzles me and makes me doubt if I could buy CS5.
1.
Could CS3 .prproj files ( ex XP 32 bit )  be opened in CS5, on a 64 bit i7 950 machine,  without problems after having installed a new fresh CS5 ( no upgrade from CS3 to CS5 ) ?
Do I loose CS5 features while processing CS3 files in CS5 ?
And, most important, are the CS3 files ( opened in CS5 ) also prone to the Mercury video card acceleration while rendering into mpeg2 ( no avchd ) and playback those mpeg2 files =
Sorry if these are too basic questions, but I need help anyway which I was unable to trace anywhere else.
Thanks for any help.

Answer 1

Could CS3 .prproj files ( ex XP 32 bit )  be opened in CS5, on a 64 bit i7 950 machine
Yes.
without problems
Probably. Always backup your original project before proceeding.
after having installed a new fresh CS5 ( no upgrade from CS3 to CS5 ) ?
There is no such things as an "upgrade," per se. Each version is a standalone installation.
Do I loose CS5 features while processing CS3 files in CS5 ?
No. A CS3 project becomes a CS5 project on import/opening. You may lose some CS3 effects, but nothing in CS5 is unavailable.
And, most important, are the CS3 files ( opened in CS5 ) also prone to the Mercury video card acceleration while rendering into mpeg2 ( no avchd ) and playback those mpeg2 files =
Yes. Sort of. I think so. Mercury Playback Engine does not accelerate rendering, but instead accelerates certain effects. But I think the answer to your question (or the gist of it, anyway) is still "yes."