Switching to Android Studio with all my existing projects in Eclipse. So what is the procedure to do that.
The official release of Android Studio (version 1.0.2 at the time of this writing) now supports importing ADT projects directly. In fact, when trying to export from ADT, there is now a popup that suggests importing directly from Android Studio is a better choice.
Just open Android Studio > Import Non-Android Studio Projects > Select your ADT project folder.
It creates a new AS-version of your project, and reports items that need your manual verification.