I tried this and noticed that the length of the script is more after converting them in 5.5 or vice versa. And most of the scripts did not work. I did not want to waste time and get confuse debugging them and did everything from scratch. As of now I encounterd more than 5 issues 5.5 and received patches or was asked to wait for SP's.
You all are scaring me. I've been going round and round with odd behavior in 5.5. Inconsistant middleware errors and other unexplainable problems where 1 script will won't work and recapture/convert script looks EXACTLY the same and will work.
Tanishq, can you give any ideas of the type of issues that you have received patches or were deferred?