Erm... no... you got me wrong.
You have to manually place all the items in there
with the toolset.
Meaning you look at your old chara and then write a little list of the items that he has (on a sheet of paper). Then you launch the toolset+module and drop the desired items into the module directly from the complete item list in the toolset.
That's why I called it the "hard way".
Granted, it's a bit tedious, but it works. Especially if you limit yourself to the important stuff and ignore knick-knacks like scrolls, potions etc.
-Zel