Hi Sharath83,
The new JUP-8 V4 and Stage 73 V2 in VC8 can't use the presets from VC7.
This two upgraded applications are installed alongside the old. The old and new version are two different applications in your DAW. The old projects will load the old applications. You'll need the old applications for old projects with theese two applications, to use your old presets.
Presets from the old Jup-8 and Stage 73 can be used in Analog Lab V, if "Include Legacy Sounds" is engaged in Analog Lab Vs menu. But also Analog Lab V is like the two above installed alongside Analog Lab V4. So Analog Lab 4 will be loaded in old projects, where you have used it.
The rest applications in VC8 is either new from VC7 or updates that will use the same presets as in VC7. The VC8 versions of this applications will just replace the VC7 applications like any other updates. Thus your DAW also just load them in your okd projects.
You don't have to move anything. Just use the same install paths as before.
Also you don't have to uninstall VC7. Just run a normal update/ install procedure in ASC.
Keep in mind, that old applications is'nt being and will not be maintained by Arturia anymore.
In this context it means you can't exspect JUP-8 V3 and Stage 73 V to be maintained anymore.
All this is normal procedure for Arturia.
I can add it has been normal, that when Arturia have created new applications, that can't use the same presets as the previous version, then the applications have been be installed alongside the old.
From VC4 to VC5 it also was possible to get a presets upgrader/ converter to change presets saved by user to be used in the new applications. Most but not all presets sounded the same, as things in the applications was changed more or less.
In example JUP-8 V4 has changed much from JUP-8 V3, so the V3 presets would not sound the same in V4, even if there was a preset converter availble.
And yes - no matter what - it imho will allways will be most safe to keep the original used sound, if you convert midi to audio tracks and also back those audio files up. You newer know, if something in the applications suddenly change somehow. If an convertion to audio is important, is an estimation you'll have to take in each project.
Something can allways go wrong. I can't guarantee anything either.
Hope this helps.