virtzberg, good news: I managed to open the project in LPX 🙂 So, from what I could see in the Environment, it's a pretty sophisticated setup. And the reason why you cannot hear any output is, this project saved all the hardware audio interface assignments for the setup you used to produce it at the time (perhaps, that's how Logic 5.5 used to work). In other words, Logic (Pro 9, in your case) does not see the audio engine for audio signal output. Sample Editor just works with individual samples and previews audio using the default interface, I suppose. So the solution is quite straightforward, you have to reassign all the audio track objects to Core Audio.
So, right after you open the project, you'll have to go to the Environment and select Audio layer. Then if you click on one of the audio track objects and select the Channel setting in its object parameter box, you'll see that (ASIO) audio engine is ticked:

So in order to fix that, delete the channel splitter object (you may move other objects in Audio layer out of the way too), then select all the audio track objects at once, and with them all selected, go to "Channel" setting in the parameter box and choose Core Audio (make sure to note the volume fader settings for each track, because they will be reset; you may use the screenshot above for reference):

After you switch these objects to Core Audio, you'll be able to create an Output object:

You'll be able to hear the audio tracks in your project after that. Problem solved! 🙂
Let me know if anything doesn't work as I described. I'm using Logic Pro X, but its Environment workflow shouldn't be much different from Pro 9. As for the MIDI tracks, they are all intended for external MIDI instruments, but can be easily reassigned to software instrument tracks, in case you want to remix this project in the box using plugins. So hope it helps. Cheers!