I was heartbroken at the thought that my "favorites" file wasn't importing! I have so many that I probably wouldn't be able to recreate it and who knows what cool things I would have lost. I kept getting an error message that said the file was invalid. But why? I just saved it yesterday! I finally realized the formatting of the hard drive left me with IE7 and I had been using IE8. Didn't know 8 was so new that the version with my laptop was older (this is a fairly new laptop). So I upgraded to 8 and everything worked just fine! Woo-hoo!