From what I understood, Pangur Ban, the end save is identical from both games, so yes, you should be able to import your old characters.
Unfortunately, I lost all my old save games, so now I'm scrambling through a round of Wiz 7 to be able to get ready for the 8th. (I'll probably create a "scratch" party as well, though!

)
Cheers,
-Sazerac