This is a mistaken assumption. I have ported many FS9 and FSX vehicles to V4.
It's pretty much all possible, depending on level of commitment. In that regard, I really doubt anything currently available will match the level of commitment thus far seen in this thread.
I didn't do it for ease, but the work was largely proof of concept. My money is on this one. However I am absolutely certain the full conversion is possible and the post was intended to encourage you or anyone else to accomplish it.
Playing around with Dynamic light.
there still need improvement on Dynamic light, as far as I made try and error:
1. Dynamic light doesn't generate shadow.
2. still go through any model polygon. i.e. landing light still show in cockpit.
3. rounded spot (don't know how to create long emitter)
4. fx file still doesn't work in virtual cockpit.
have so many idea with dynamic light, hope not end up with "limitation".