After defining your spatial references, you may receive the following error. If so, you'll need to upgrade your geodatabase and spatial references to version 9.2 or manually create a spatial reference.
A personal geodatabase can be upgraded to 9.2 by right clicking and selecting to "Upgrade" the database in ArcCatalog. The spatial references on your feature datasets can be upgraded by right clicking on each feature dataset and selecting to "Upgrade" the Spatial Reference in ArcCatalog.
To view your upgrade status, right click on the database and select "Properties". If you need to upgrade the database, you can do so at this time.
Note: You'll need to upgrade the spatial references on each database.