[Bram History]

I think it may worth to try some programs before start all over again.
I have same problem, my psd files unable to open with same reason as mentioned above, “Could not complete your request because the file is not compatible with this version of Photoshop”.

I tried to open in another computer and with different photoshop version (7 and CS), and all of them failed to open it. I read similar problems in forums and no solution works for me.

Losing my hope, I start to think to re-creating. Then I remember another graphic programs I used, SAI Paint tool. PaintTool SAI is a lightweight software focused solely on painting and drawing, and its able to open other graphic programs like photoshop and such.

I give my shot and try open my broken psd files in SAI and it successful! After that I tried to save that psd files under different name, open it in my photoshop cs4 and I got my psd files working successfully without anything miss. Now I’m continuing my works without re-creating the whole things.

I don’t know if its works on your case, but I just want to share my experience for future records.
And also, sorry for my broken english. Not my native language so … yeah … 😛