Nope... you have to go to MCD 4.0 first, clean up the directory and LNO issues, then convert and backup... from there you can go up to current.
No way around it... that being said, you could just export the major forms then import them into the new controller but it would still require a lot of manual cleanup. But I betting in most instances it is easier and faster to install 4.0 software, restore, cleanup, convert, and then upgrade to current.