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1: You can't earn trophies as long as you use that save. 2: Anything the save has that uses DLC you do not own you can't use, so it'll bascially be an annoying icon in you pop-it (or whererver it is) you can't use 3: There'll be a message every time you start the game saying you can't earn trophies (I can't remember if they fixed this)
Well looks like you can, but apparently I found this on the lbp board, and I guess these will still apply