Okay, time to retract my earlier statement, it turns out you can import data from the first game but it helps if you actually download the updates and patches for ME2 first. My Wi-Fi sucks so only half my place gets a constant signal and unfortunately the room that has my HDTV and PS3 gets next to no signal so I didn't download the patches until I realize that might be the issue. So it looks like everything is fine again and Mass Effect Trilogy is back in my good graces.

Time to start Mass Effect 2!