Converting the ACT! 3-6 report templates is required only if you have created custom report templates in the earlier version. Most of the standard report templates from the earlier version are automatically available in the later ACT! versions. In most cases, you will do the report template conversion right after you have converted your ACT! 3-6 database.
You need to have the database open where you want to use the converted report templates, because the converted report templates are directly added to that database. If you installed the ACT! program on the same computer where ACT! 6 was installed, the old report templates will be readily available. If this is a different computer, you will need to make sure that the ACT! 6 report templates were copied to a folder in this system.