Hi Jamal,
Importing content is fairly easy. It's not a matter of just pointing to your TS12 install and importing stuff as that would be too easy! I found the best way to do this was slowly and methodically. I sorted by author in TS12 CM then opened up those assets for editing.
I then opened up a Windows Explorer window, on the editing folder for TS12, highlighted all those assets in the Windows Explorer, and dragged them into T:ANE CM.
Once the assets imported successfully, I then reverted the content that was open in TS12, and reverted any built-ins or payware assets that may have been left open for edit in T:ANE CM by the importing process.
The process took me about 3 weeks to transfer over my 165,000 non-built-in assets.
Keep in mind, that once the stuff has been imported, there are going to be lots of errors. What else is new, right! The repair process is simple for 99% of the content. It's a matter of using the usual tools such as PEVs Software, and AssetX, along with Note Pad to fix those errors in the config.txt files. At the moment, I have about 2500 assets to repair out of the 7800 I had with errors. It's a tedious process, but doable.
There is one thing to keep in mind. Built-in TS12 assets and many payware assets are not ready for T:ANE. N3V is repairing these and will eventually upload them to the DLS for loading into T:ANE. Whenever this is completed and ready, we don't know other than soon(tm).