every start tries to convert profile

On a Mac (9.2) upgrading from a very old 4.5 to 7.02 (the latest supported
by 9.x), every time I try to open Netscape, it runs through a process of
"converting" my profile.  This takes about 10 minutes, then I have limited
access to my e-mail and browsing.  I close the application, then start it
again just to have the same scenario play itself over and over again.  Is
there any way that I can have it ignore the old profile and create a new
profile?

Thanks in advance,
Allen