Corel Draw 10 vs Draw 3 compatibility?

[Steven B.]

I have been using Corel Draw version 3 for many, many
years and would finally like to upgrade to version 10.
Better late than never as they say...

I have heard that version 10 can not read files created
with version 3. Can anyone tell me if this is true?

I though all software usually is backwards compatible
with earlier versions. If not, it should be!

Thanks for any input! --Steven