No bites... don't blame you

After messing around with it for a while I've come to the conclusion that it's almost a total waste of time. The import is
only for the Address Book and not a smart import, it replaces the Address Book completely. Be sure to do an export first if you are inclined to give this a try but be prepared to redo any Favorites you might have set up, I.e. Home.
In retrospect the only advantage to doing an import (after an export) is that you can have better titling.
I added PetroCan stations that I might frequent but by the time you search out address and convert to LAT/LONG it would be just as fast to to do a 'Places' search and then save it. Since the file you'd be working with is XML one has to be careful so as not to add or miss a bracket, etc.
It's been a somewhat frustrating exercise but since the 'feature' was there it had to be explored. End result is that it's not much of a feature. Oh well.