Opening FCE 4 project in FCP 7? Is it possible?

Hi All
I am on the verge of buying FCE 4 to rough-cut a doc project that will likely end up being finished on FCP. Budget is tight at the moment and my current 'field' machine is too slow to run FCP 7 properly.
I know that FCE cannot export an edit decision list, but that FCE 4 projects can be opened in FCP 6, according to Tom Wolsky (see http://forums.creativecow.net/thread/8/995580).
I assumed that FCE 4 projects could thus be opened in FCP 7 -- but this website http://www.answers.com/topic/final-cut-pro says that FCE 4 is NOT compatible with FCP 7.
Can anyone advise on this? Is it possible to rough-cut a project in Apple Intermediate Codec in FCE 4 and then open this project in FCP 7, re-import footage as ProRes, and finish?
I look forward to your responses!
Adam Welz

Hi Tom
I've split this question into two parts:
A) I'm not entirely sure what the implications of FCE 4 losing 'all timecode' when converting (in this case AVCCAM .mts) files to AIC on import are. Apparently the original timecode is still there -- it's just not visible unless you use a filter like FCE Timecode Display (http://web.mac.com/piero.fiorani/PieroFFCE_Effect/TimecodeDisplay.html).
I'm on a steep learning curve here, so please excuse me if I sound a bit dumb, but does the fact that AIC 'loses timecode' mean that if I open an FCE 4 project file in FCP 7 and try to re-capture media (and convert to ProRes while recapturing) from my original AVCCAM files using FCP 7, that FCP 7 will not know where to find the clips to re-capture?
B) I'm also not sure what you mean by capturing media as DV anamorphic downconverted to retain timecode. Presumably this does not apply to AVCHD footage, as you have indicated elsewhere in this forum (and chapter 16 of the FCE users manual says) that the only transcode (ingest) option with FCE is to convert AVCHD footage (including AVCCAM footage) to full-size AIC? Please clarify.
Thanks for all your help!
Adam
Message was edited by: adamwelz

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