Falcon will read all .M5p and .M5m files created with MachFive, all MachFive sound libraries are fully compatible with Falcon. Everything present in the M5 engine was ported to Falcon, many new oscillator types, modulators and effect modules were added, many features were improved.
The only difference is, that Falcon can only import sfz-files whereas M5 can import Kontakt-nkis
(up to version 4) and various other sound formats.
Please note: When re-saving MachFive patches in Falcon, the format will change to the .uvip-format introduced in Falcon. Patches with an .uvip extension can not be opened in MachFive.