Can't wait until my current FCP5.0 project is finished (I have multi-format content, and rendering each step is time consuming) and I'm wondering if I upgrade to FCS2 (which I just bought) will it import/read all the files, timelines, etc. seamlessly?

My thought was to install Tiger (although I'm running Leopard with the 5.0 now) and FCS2 on a brand new hard drive and try it? (By the way, I have backed up my content on my DSR-45, and exported a quicktime movie of the timeline)

Comments? Thanks.

It will read the 5.0 project file just fine. I would suggest doing a Save As right when you open it and saving it as a new project file. That way you keep the 5.0 file intact.