Yes it will output a PT5 file which contains far more detail than any AAF or OMF and can be read by later versions of PT
An AAF or OMF is great if
1. You really only want the very basics converted - and I mean the basics
No markers, no fade types, no bpm, no gain , pan or mute automation/envelopes, etc, etc
2. You think it might have a chance of being read by another daw
3. you like to live life on the edge
You can send me your VIP and/or your EDL
Your choice