I actually tried both, and get the same message.
I open the program. I get the "Getting Started" page. I click on "Import from an existing file." I click "Browse." I click on my family file. I click "Open." I get a message that says "This file was created with an older version of Family Tree Maker. This file must be converted to the new 2012 format. For larger files, this conversion may take several minutes....." I've already created a backup of said file so I click on "Ok."
A small oblong window comes up saying "Updating file." Then another window appears behind it which always says, "Family Tree Maker 2012 has stopped working. A problem caused the program to stop work correctly. Windows will close the programs and notify you if a solution is available." This is no choice to but to click on "Close program," at which point the program shuts down.
I have rebooted. I have tried going to "File" and clicking on both "Open" and "Import as New Tree..." All with the same results.
I just wanted something to work for once...you know?...without having to jump through hoops to get it to work the way it should.