Well, that's what you are gonna have to do if you want to import them. I would suggest a batch action for automated processing. And, just to be clear, there is a warning attached when saving without the max compatibility checked, so it's not like you weren't warned.
Thanks for info that it's a no go
I knew exactly what I was doing .. over the years I have had no need for backward compatibility and did not want the extra files size overhead .. and all subsequent versions of PS have been able to open the files thus no compatibility problems.
I'm just surprised that given Bridge can display a thumb w/o full size flattened version that LR cannot .. at least display the thumb so I know the file exists (then if I wanted to work on it in LR I could resave it .. I seldom redo a finished .psd file, but in a cataloging program I need to know it exists)
anyway thanks for confirming that it doesn't work and there's no easy way out
Think I'll sell LR ll and put money toward an upgrade to CS4 with the new CR and keep using Bridge