Compatibility between N6 & C7 projects

Are the Cubase 7 projects compatible with N6?

I am thinking to get the Cubase 7 demo (assuming it’s fully featured and only has a time limit) and use it for some music production projects until Nuendo 6 is released in order to get used to the new workflow.

After I upgrade to Nuendo 6 though, will I be able to open the projects I created with Cubase 7 and will they be fully functional?