Actually, you might be able to pull it off.
Here’s the thing: the ABVB-based MediaComposer 7.x was one of the best editing stations Avid ever released. Rock solid, feature rich. It was a milestone. Since these machines are pretty old, you won’t have USB and such. That does not make the machine a dog, IMO.
MC7.x was based on the ABVB board, and does not handle Meridien resolutions (2:1, 10:1, 14:1p and such), but the older Avid ABVB-based AVR resolutions, labeled AVR3s, AVR12, AVR77, and such.
The upside is that modern MC’s can still READ and PLAYBACK those resolutions (but cannot create them). One issue I found was that functions like Relink don’t take into account the “foreign” resolutions.
Generally, it is wiser to share bins than it is to share projects, when sharing between different revisions. Projects are slightly more complex. Often it works, but there’s little gain, and it would be easier to exchange bins.
Also, the 7.2v4 release was meant to create project/bin compatibility with the (then newer) Meridien systems. In those days, I was often offlining on a Meridien system, and onlining on a system just like yours, using that 7.2v4 revision. Worked fine.
However, I’m not sure about how compatible the latest releases are with the old bins and projects. For one, you’d have to consider that there are loads of features in the newer version that the older version didn’t have and therefore will not recognise. However, why not do a simple test, and try to open a bin with some footage and one with sequences, created on a current MC system, and see if your ABVB system will read them.
As for exhanging media, it should be possible, as long as you use SCSI media. That would mean including a SCSI board on the newer system, or using an intermediate system that has both SCSI and FireWire, and transferring all media from one system to the next. However, any media created on the new system would not be recognisable on the old system.
For the exhange of bins, you might use a network, or if you can find an old SCSI-based CD-Recorder (I might have one in the basement), you might use CD-RW. Or use a USB floppy drive on the Powerbook, and keep your bins under 1.4 MB 😉 (the smiley means: you won’t have any sequence bins created in current MC’s that are that small).
From what I’ve heard is that FCP projects and sequences between various revisions of FCP are completely incompatible. Avid bins are generally way more upwards/backwards compatible between different revisions of the software. I’ve shared stuff between MC10 and MC7, between MC5 and MC7, MC11 and various Adrenalines, MC12 and AXP 4.6 and 4.8.
Another thing to consider is that if you need to use multiple systems, and you are currently relying on the ABVB system, you might try and spring up some cash to get a new MC-soft, a Mac or PC and a Mojo or Mojo SDI, and have all ABVB features on a more versatile, faster more current system, for a fraction of the original cost of the ABVB system, and use a laptop with MC-Soft to go with that.
It’s a little depending on how complex your workflow demands are going to be.
Hope this helps.