You don't import projects into DVDA, you import video and audio.
By the time you get to DVDA, it's an MPEG, AVI, or some other video. As long as the video and audio are in proper formats, DVDA doesn't care what program you used to create them.
That said, if you have DVDA2 but are using Vegas 4, I hope it's not because you don't have Vegas 5, 'cause that would be impossible. ;-)
I am not a fan of the Vegas 5 look myself, so I have not tried any of the new features. I can see why some people may want to stick with Vegas 4, but use the DVD Architect 2.
Yes, I do have Vegas 5 but have done lots of jobs in Vegas 4. When I bought Vegas 4 a year or so ago I opted not to get DVDA. However, this time around when I bought Vegas 5 I got the combo with DVDA2. Thanks for the insight.
Also, is it possible to creat a dvd using DVDA2 that looks close to the quality of my dv footage?
About as possible as it is with any DVD authoring software.
If you render your video to a DVD compatible MPEG2 and your audio to AC3, DVDA doesn't change your content in any way. In Vegas, use the DVD Architect template and the Dolby AC3 template.