Someone probably allready asked but i did not see the question or answer. When you import do you lose all items or just spells and gems?
If you can import equipment do you have to pull it from the final save file or will any save game file do?
If there is anything special to be done please let me know.

When you import character in the start of the game, you will lose all items (whether it is from BG1 character saves or BG2 character saves), but you will retain your learned spells and they are memorized in your spell book.

As for importing equipment, you can either do that in multi-player game or use Shadowkeeper (there are probably other means). But that kinda takes the fun out of the game.