I have exactly the same problem. Unfortunately, these compatibility issues are not clearly presented to you prior to purchase & install. I simply do not have an endless pool of money to constantly upgrade the already very expensive software I have purchased. Logic 8 isn't even that old.
There was a thunderous applause at the WWDC when the update was announced at a price of £20. What you don't want to find is having to spend £££s of pounds upgrading Apple software that's no longer supported. This is the catch ladies & gentlemen.
I'd imagine that presenting to the public at the WWDC a list of expensive Apple software that would no longer be supported would have severely affected the volume of those applause.
I am an ambassador for Apple products as they really are great. Issues like this, however, make me more & more abhorent of the way Apple run their buisness. I owned a Macbook for 5 years, only to find that Apple had stopped supporting iTunes for Tiger OS, yet the new updates were supported on my 6 year old windows machine running XP. Presumably, loyal apple fans are assumed to have an endless supply of money & will just mindlessly buy new Apple products out of want rather than neccessity. That loyal fanbase fund Apple's Software/Hardware development. Why a windows user should benefit from the latest version of a free Apple download & the loyal Apple customer have to pay & upgrade his entire OS is particularly disloyal on Apple's part I feel.
I digress.
I now have two options...
a) I spend a lot of money upgrading my software in order to use them again, despite not needing to. No Thanks.
b) I reinstall Snow Leopard, I can continue all of my work & Apple get to keep my £20. Yeah. Thanks a lot.
c) I compile a list of legitimately purchased & no longer supported Apple software on my 6 month old £2000 machine & they provide me with free upgrades.
I'd advise anyone thinking of upgrading to Lion to deeply research their potentially affected programs
£20 pounds is peanuts for an OS upgrade. It's also so cheap that you probably don't need to save up for it when you actually need it.
Thanks
J