Cross Compatibility between Cubase 8 and Artist 8

I’m using Cubase 8. A friend which I record with just ordered Cubase Artist 8. How compatible are they? Can he use my .cpr file and vise versa. Also, are the recording engines similar? Will he be able to record on Artist and then transfer the files to Cubase 8 without loss of sound quality. I’m guessing the only real difference will be features.

You can open his Artist files, but not the other way 'round.

Not so.

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