I've been using Logic only since version 5. But, I know that 4.8 was apparently very stable. I found the automation features in 5.5 to be great, and in general it was a very stable setup. I've particularly loved versions 7 and 8, partly because they give the composer and producer so much more freedom and content, and in particular version 8 is much easier to use.
Personally, I wouldn't go backwards. I think you'd have to use OS 9 to use Logic 4.8? Not a great idea unless you have all the equipment from that day. Even then you'd be constricting yourself in terms of track count and no support.
I can understand people wanting to keep their setup and their workflow, but even going back to Logic 7 isn't great for me now... so once you know Logic 8 I think it'll be more worth your while spending a little time optimising the system for Logic and learning where there are limitations and what workarounds can be employed...
This forum is great for that! ;-)
I think it's difficult to compare a DAW to a hardware workstation, because as you state the hardware has a defined purpose and tends to do that well. Software on a computer runs as well as the OS, internal hardware and the hardware connected to it allows.
Software based studio have a greater degree of flexibilty and mean Logic can really be tailored to a particular workflow and many styles of music. For example, you can write scores, mix in surround, score to video, do sound design, as well as produce all styles of music imaginable!
If the only reason you are considering going back to older versions is the realtime vs offline bounce, then I'd urge you to reconsider.
Also, bear in mind that a lot of the issues people face with Logic or other DAW's often come as a result of OS changes, external hardware and 3rd party plug-ins. Of course there are bugs too...
Can you bring to the fore some of the other concerns you have about things not running smoothly?
By the way, what Mac and OS are you running?
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