As a general rule, SONAR 5 projects should be compatible with the current version. That includes most of the effects bundled with S5 that are no longer supplied (e.g. Vintage Channel, Pantheon, Perfect Space). The exception would be DX effects such as the DX version of Dim Pro. If you have trouble opening a project because of one of those plugins, you'll have to find and substitute the VST version, assuming there is one. Fortunately, the majority of them do have VST versions (e.g. the Sonitus suite, TTS-1, Dim Pro). Only a handful were never ported to VST, such as Dreamstation.
I'm assuming you still have SONAR 5 installed. If not, then you'll be missing a bunch of stuff and will have to follow Steve's advice above and re-install S5 (or just the plugins).
BTW, I disagree with Chuck's assessment above. It would be a sad state of affairs indeed if digital music projects had a shelf life of less than 13 years!

I've loaded projects from Cakewalk 1.0! The hardest part was finding a floppy drive to read the disks.