Too many layers for this version of Photoshop?

Q: When I try to open a file that I
created in Photoshop 5.x, I get an
error message saying "Could not
open "mydocument.psd" because
there are too many layers for this
version of Photoshop" What do I do
now?

A: If the document is in RGB mode,
you can open the file in ImageReady,
merge or delete some layers, save,
then reopen in Photoshop. If the
document is in CMYK mode, Photshop 6 will be able to open the file.