I want iLife 8 but not iMovie 8, can old projects open in iMovie 6?

Question

I have seen the new iMovie 8 and the missing functions makes it totally useless to me. I am very disappointed with the dumbing down of iMovie with this new version but enough has been said by many others about that already. However, the new iPhoto link to .Mac gallery looks good, and likewise the new version of GarageBand so I would like to get iLife 8 just for those, without using iMovie 8. I want to carry on using iMovie 6 for my old and new projects. If I upgrade to iLife 8 can my old projects continue to be accessed by iMovie 6 if I go to the "previous version folder" and open the application from there? I do not want to risk anything going wrong with the old projects before I have completed them. I definitely am not interested in even starting anything in iMovie 8 as I use all of the lost functions when editing my movies.
When I bought my first Mac 4 years ago, it was the sophistication of the iLife application that came with the computer, and particularly iMovie, that most influenced my decision to switch...nothing to do with iPod halo effects or pretty white hardware. If I was making the same choice now, I would not be similarly impressed and influenced by the capabilities (or not) of iMovie 8.
I can kind of see why there might be a need for the YouTube link up and webcasting functions in iMovie 8 for some people, but I still think that the majority of people using iMovie want to make good looking and sounding movies to store on DVD's. I really hope that Apple give us a proper upgrade to iMove 6 HD and a separate application for all the other simplified stuff.

Answer 1

Thanks both of you. All of the earlier projects that I want to open are in iMovie 6 so it looks as if that will still work.
QuickTimeKirk, I don't think I was really ranting ( I did that a few days a go and my post was deleted, so fair game), but I was expressing an opinion that from what I have read, is shared by many on this forum, and on others. I am not saying that iMovie 8 is absolute rubbish, it will work well for lots of people and has some good functionality if you want to make quick, simple movies and upload them to the web, but I sincerely believe that it falls very short for the many of us who want to continue to be able to do what we had been able to before with the old version. Whenever Apple had previously given us an upgrade to an application it had added not taken away...at least not so drastically as with iMovie 8. To me, not being able to at least edit sound or use a timeline, or themes, just means I can't get the same quality of movie I could before, therefore it is useless to me. I am just expressing my disappointment that a product that I had previously been impressed enough with to switch from PC's because of, no longer holds the same appeal. And I am only talking about iMovie 8, not Apple products in general, or the rest of iLife. I just wanted increased functionality, not less with a new version, and V8 is probably going to work for lots of people, but not for me. And I am not alone in that.