You will know if the project has any pre-AC12 objects loaded when ArchiCAD 12 alerts you to "convert" the older objects to AC12.
Conversion to AC12 format refers to adding/assigning each object to the desired/correct AC12 object sub-type. If you let AC12 automatically convert the objects, the parts will be assigned to generic sub-types that will work in a "pinch", but I would suggest manually converting each part.
If you work with older .LCF files (pre-AC12) as Libraries, you will notice SLOW loading because AC has to open and read each of the older (pre-AC12) objects within the .LCF during the initial load.
David Larrew, AIA, GDLA, GSRC
Architectural Technology Specialist
a r c h i S O L U T I O N S
WIN7-10/ OSX 10.15.7
AC 5.1-25 USA