Upgrade OLD version of Final Cut Pro?

I was recently given a unopened version of Final Cut Pro 3...If I install it is it possible to upgrade it to the current version? If so, is that complicated? Expensive? Anything else I should know?
Thanks,
Peter

I don't actually have FCS 3 yet.
As to whether it's the right editing package for you, what video format will you be working with?
Is that format covered by iMovie or another editing software and is its functionality enough?
What is your level of video editing experience?
For my part, I prefer Final Cut Studio and know it well. I have yet to see something that works better for my budget, expectations and needs.

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