I have a customer who sent me a lyr file in 9.3 and I am using 10, is there a way to import it in. It seems to hang up whenever I attempt to open it!
@prasad is right you can open 9.3 lyr in 10.
if you want to save them to 10 lyr
The reverse operation is told here ArcGIS 9 doesn't recognize ArcGIS 10 .lyr files and solution:
Beside this for batch convertion you can use Save To Layer File (Data Management) with arcpy, here.
i hope it helps you