Yosemite, iPhoto 9.6 upgrade, large photo library is not recognised.

Question

iMac 2.66 GHz Intel Core 2 Duo (Early 2009) with 4 GB 1067 MHz DDR3 Ram, 1 TB HD.
Just installed OS X Yosemite and iPhoto 9.6.  I didn't run iPhoto immediately after instal, but my wife did while I was gone.  She told me later that iPhoto didn't work and that when she clicked iPhoto, it asked to fix the permissions and after a bit iPhoto became unresponsive so she shut down the computer. 
When I opened it, it asked to upgrade the library to work with the new version of iPhoto.  Clicked ok and let it run...it did not last more than 5 minutes.  When trying to open iPhoto now, it pauses for a second, then it displays the initial first time use splash screen (yellow sticky that says how to add photos to iPhoto).
The photo library in the finder shows it to be 230GB which is about the size I remember it to be.  Showing the package contents I can see all of the photos in the "old masters" folder.
I have tried the following:
- Re-boot
- Repairing disk permissions (from recovery mode)
- Reset PRAM
- deleted and re-installed iPhoto
- Utilised all the options in the iPhoto Library First Aid (all take about 1 second to complete)
- Ran iPhoto Library Manager to rebuild photo library (took under a minute)
I have another copy of the library in another folder as well as an online backup (but all have been updated with the problem library so I don't think that will help much).  As we speak, I am doing a local backup of the photos to an external drive just in case something further were to happen or I need to do a clean instal (don't think I can wait to have all of that download from the online backup).
So if anyone can help me it would be greatly appreciated.
1. Is there anything else I can do to save the database before having to just pull all of the photos out of the library and losing all of the metadata?
2.  If thats all there is to do, what is easiest and best way to do manually or automate this...and to retain as much of the metadata as possible?

Answer 1

file:///Users/Shared/iPhoto%20Library/AlbumData.xml
file:///Users/Shared/iPhoto%20Library/Apple%20TV%20Photo%20Cache/
file:///Users/Shared/iPhoto%20Library/Attachments/
file:///Users/Shared/iPhoto%20Library/Auto%20Import/
file:///Users/Shared/iPhoto%20Library/Backup/
file:///Users/Shared/iPhoto%20Library/Before%20Restore/
file:///Users/Shared/iPhoto%20Library/com.apple.iPhoto.plist
file:///Users/Shared/iPhoto%20Library/Contents/
file:///Users/Shared/iPhoto%20Library/Data/
file:///Users/Shared/iPhoto%20Library/Data.noindex/
file:///Users/Shared/iPhoto%20Library/Database/
file:///Users/Shared/iPhoto%20Library/iLifeShared/
file:///Users/Shared/iPhoto%20Library/Info.plist
file:///Users/Shared/iPhoto%20Library/iPhoto%20Selection/
file:///Users/Shared/iPhoto%20Library/iPhotoAux.db
file:///Users/Shared/iPhoto%20Library/iPhotoAux.db.bak
file:///Users/Shared/iPhoto%20Library/iPhotoLock.data
file:///Users/Shared/iPhoto%20Library/iPhotoMain.db
file:///Users/Shared/iPhoto%20Library/iPhotoMain.db.bak
file:///Users/Shared/iPhoto%20Library/iPod%20Photo%20Cache/
file:///Users/Shared/iPhoto%20Library/Library.data
file:///Users/Shared/iPhoto%20Library/Library.iPhoto
file:///Users/Shared/iPhoto%20Library/Library6.iPhoto
file:///Users/Shared/iPhoto%20Library/Masters/
file:///Users/Shared/iPhoto%20Library/Modified/
file:///Users/Shared/iPhoto%20Library/Old%20Masters/
file:///Users/Shared/iPhoto%20Library/Old%20Previews/
file:///Users/Shared/iPhoto%20Library/Old%20Thumbnails/
file:///Users/Shared/iPhoto%20Library/Originals/
file:///Users/Shared/iPhoto%20Library/Previews/
file:///Users/Shared/iPhoto%20Library/ProjectCache/
file:///Users/Shared/iPhoto%20Library/ProjectDBVersion.plist
file:///Users/Shared/iPhoto%20Library/Projects.db
file:///Users/Shared/iPhoto%20Library/Recovered%20Photos/
file:///Users/Shared/iPhoto%20Library/ThemeCache
file:///Users/Shared/iPhoto%20Library/Thumbnails/