In Episode 2 of the Penny Arcade Adventures XBLA/PSN game, you have the option of either making a new character or importing your old character (by accessing your end-of-game save data from Episode 1). Is there any benefit to doing so, aside from a greater sense of continuity? Do acquisitions from the first episode carry over into the second, or what?
From my (admittedly hazy) recollection of PAAOtRS, you keep your characters levels, the look of your customized character and, assuming you unlocked him in the first game, the support character Div.
A cursory googling seems to confirm this.