I think the learning curve isn't too bad. You would be writing 4GL procedures instead of stored procedures, most likely executed by cron. Like Cringer said it is more like writing cursor based T-SQL than SQL.
The hard part is understanding what the application is doing with the data so that you can get what you need out of it. Some schemas are well designed, some are horror shows. I don't know Hagen so I cannot say. I believe that Allegro -- http://www.allegroconsultants.com/ has some deeper experience with Hagen. They are good guys that have been around for a while -- they do good work.
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