Unity 3.5.7 Fatal Error! type == kMetaAssetType

Unity 3.5.7 Fatal Error! type == kMetaAssetType & pathName.find (“library/metadata”) != 0

I’ve been recently getting this error out of the blue even though my file was created and always edited in Unity 3.5.7. I looked at other related posts about this problem here, tried uninstalling it and installing it in different locations, deleted all the related registry files. Nothing. It always appears when I try to start Unity. Has anyone been able to bypass this somehow? I appreciate any help or links you can throw at me.

This Error is usually presented when Unity 3.x is attempting to open a Unity 4.x project.

Remember that Unity 3.x cannot open Unity 4 projects.

To solve this:

On Windows: Hold down the Alt key when starting up Unity, You will then be able to create a new project or open a 3.x project.

On Mac: Hold down the Command key when starting up Unity, You will then be able to create a new project or open a 3.x project.

Check this
http://forum.unity3d.com/threads/160690-Fatal-Error-type-kMetaAssetType-amp-pathName-find(-quot-library-metadata-quot-)-!-0?p=1376458&viewfull=1#post1376458