I had the same issue when upgrading from VB 3 not long ago, I ended up changing to zoints local
http://zoints.com
and rewriting their import script for journal entries made by the VB3 journal (attached) I used it to successfully import all entries to zoints local and things seem to be good
if you use the script do test it, it worked for me after lots of editing, may give you errors, but shouldn't damage anything, only reads from journal tables and writes to blog tables
oh and you need to add a entryactive column with default value of 1 to the journal_entry table for it to work (or disable that part in the script)