There are 2 ways to import your saves but one way does not work for everyone i ran into this issue on Windows 7 64 Bit.

Step 1: Lauch Game
Step 2: Pick Configure and not Play.
Step 3: once Scan has finnished on the left pick Save.
Step 4: Click Copy Mass Effect 1 Save Games
Step 5: Pick where Mass Effect 1 Saved your games default for win 7 is C:\\Users\\(Username)\\Documents\\BioWare\\Mass Effect\\Save
Step 6: Top menu click Mass Effect 2 and click Save Settings
Step 7: Click File and pick Exit.
Step 8: Click Play on Laucher
Step 9: Pick New Game
Step 10: Import ME1

if the list is empty you need to do it this way.

Step 1: open your mass effect 1 save game folder default is C:\\Users\\(Username)\\Documents\\BioWare\\Mass Effect\\Save
Step 2: Fine the .MassEffectSave file you want (Do not copy the .MassEffectProfile file.
Step 3: open the Mass Effect 2 Save game folder and you sould see a folder called ME1 and paste the .MassEffectSave file into it default for win 7 is. C:\\Users\\(Username)\\Documents\\BioWare\\Mass Effect 2\\Save\\ME1
Step 4: Lauch The Game
Step 5: Click Play on Laucher
Step 6: Pick New Game
Step 7:
Import ME1

Note Paths are for Windows 7.

To Access these folders on XP easiest way would be.
Open the Start Menu and pick My Documents then BioWare and then the paths are the same as the ones posted above

Edited by VX9, 02 November 2012 - 11:30 PM.

Just what I was looking for, thank you!!
I followed the steps you listed but nothing happened the same... :(
where are they located if you installed the game from steam?
I also followed the steps you listed but still cannot see the save game in ME2.
I have the same problem. I can't see the save game in ME2.

Edited by Lemiu, 04 February 2010 - 04:28 PM.

I can't see my old pg in that screen...

Nobody_DK wrote...

where are they located if you installed the game from steam?

Should be the same path. If you're on XP, it's My Documents->BioWare->Mass Effect->Save.
if you do see see the folders that are above make the folders with exact same name with same Caps and it will work that way
yeah i have the same prob help lol