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I'm going to be helping a friend install / upgrade Quicken on a new computer. The old computer is running Quicken 2000 on Windows XP. The new computer will be using Quicken Deluxe 2012 running on Windows 7 64 bit. My friend wants to transfer / import all of his old data to the new setup.

I've googled and read several things on this. Most significantly, two different positions:
(1) - Sure, no problem. Q2012 will import the old data just fine.
(2) - Before trying to import the data into 2012, you have to first import and save it using Quicken 2004 (or later).

Any one here have any experience with this situation? What did you find to be the case?
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