Sounds like you're trying to convert some LabVIEW 3.1 code to LV 5.1
If you're going to do a conversion that large, you may HAVE to do it in pieces, depending on your RAM.
Make a copy of the whole folder with all the code in it (for safety).
Check out the MASS COMPILE option, in the menus somewhere (not sure in 5.1 anymore).
Mass COMPILE one library at a time. (I hope they didn't put 250+ VIs in a single library).
Then try to load the main.
If that fails, follow the instructions:
"Please record the preceding information and contact National Instruments for technical support"