I installed new Android Studio 0.1.1 based on IDEA ide and tried Import code from Eclipse.
For general 'import project' info, search for the word 'import' on this install-guide document for Android Studio:
http://developer.android.com/sdk/installing/studio.html
EDIT: I've recently learned to use the 'import' dialog, so that I can
import projects from GitHub, which is very cool! (I first watched a tutorial
on YouTube titled 'git and github'). Then I learned that one needs to
use 'git' to "Clone" an entire GitHub repository (to bring a dir-tree full
of separate projects to your development machine). Then, you can navigate
into that sub-tree, to a given project of interest, and then use Android
Studio's 'import' dialog to play with that example project.
WOW, NEAT!
Hope this helps...