| There are some that say that it was not intended to take the equipment with you. For them all you need to do is copy the Char1, Char2 files etc into the character folder in SoA and import them at the start of the game. If you do that certain objects such as the golden pantaloons and Baldur's helmet will appear in SoA though you do have to look for them.
To take all your equipment through, this is what you do:
SPOILERS AHEAD
When you are at the start of SoA import your character/characters as above.
pause the screen just before the scream. You can only import characters that you have created yourself. Press the I button to open your inventory.
Put your possessions on the ground. Unpause. After talking to Imoen you can pick up your equipment again. Some consider this to be cheating.
There is another method which I consider to be cheating as you can import items ad infinitum this way. It involves you opening the game in multiplayer mode. You can import your other characters after talking to Imoen and they will have all their equipment with them, at least nearly all. Some items such as some of the tomes will not transfer. That was done quite deliberately by the game makers in my opinion.
I am sure others will be able to enlighten you further, but that is the gist of it.  | 
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