Thanks, I guess that the solution of last resort. I will try this after having investigated some more. Also I am still waiting on a reply for the commandline build above.
By saying shipping build, did you mean shipping distribution build?
Did u first convert the old project to 4.7 and then copy the files or did u copy the files straight from 4.5 or 4.6 into the newly created project?
Yes, it was the shipping distribution build. I had converted the project for 4.7 back during the preview build, so it was the 4.7 converted version that I copied the files from.