Lion compatible Quicken for Mac

Hello,
I have nearly 13 years of Quicken for Mac financial data running on my Snow Leopard MacBookPro that I want to preserve. I have not yet upgraded to Lion, but plan to do so very soon. I have an old iMac which is stuck running Tiger which I can use as a Quicken 2007 machine if need be. My question is: Do I need to upgrate my laptop to Lion before installing and using the new Quicken for Mac? Does it matter?
Thanks,
jerseypolly

I'm new to Macs and want to transfer my PC Quicken data to my new Mac running Lion.  Does this $15 verion of Quicken run as it claims on Lion - I assume that it is only $15 to get it out there?
I downloaded Essentials a month ago and dumped it.  It does not have manual data entry near as easy as the PC version.  How does this Mac verion work?  Anything like the data entry for the PC?
Any info about data conversion?  I do have it converted from PC to Essentials, which was a hastle to get the conversion file.
Thanks.

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