I reported these discrepancies to Apple.
When importing from PowerPoint X Service Release 1 to Keynote 1.0:
1. "Wipe Right" action in PowerPoint becomes "Wipe Right to Left" in Keynote. Should be "Wipe Left to Right".
2. Bullet "None" in PowerPoint becomes default bullet for that master in Keynote.
3. Line spacing in text boxes and tables imported from PowerPoint increases in Keynote.
4. In PowerPoint, any text falling below the bottom of a text box is shown anyway. In Keynote, it is clipped.
5. Animated bullet in PowerPoint does not animate in Keynote.
6. "Spiral" entry action in PowerPoint does not exist in Keynote. It imports as "Appear".
7. 3-D Word Art in PowerPoint displays in 2-D in Keynote. Only the front face of the character block appears.
8. A "No Effect" entry action on click in PowerPoint becomes Build In Style "None" in Keynote, and all subsequent actions in the build become automatic.
9. Text Object with Fill Color in PowerPoint loses its color in Keynote.
10. In a Flow Chart Autoshape, text centered in PowerPoint appears way too low in Keynote.
Despite these apparently undocumented discrepancies, I am amazed at how well a large and complex PowerPoint presentation imported.
When importing from PowerPoint X Service Release 1 to Keynote 1.0:
1. "Wipe Right" action in PowerPoint becomes "Wipe Right to Left" in Keynote. Should be "Wipe Left to Right".
2. Bullet "None" in PowerPoint becomes default bullet for that master in Keynote.
3. Line spacing in text boxes and tables imported from PowerPoint increases in Keynote.
4. In PowerPoint, any text falling below the bottom of a text box is shown anyway. In Keynote, it is clipped.
5. Animated bullet in PowerPoint does not animate in Keynote.
6. "Spiral" entry action in PowerPoint does not exist in Keynote. It imports as "Appear".
7. 3-D Word Art in PowerPoint displays in 2-D in Keynote. Only the front face of the character block appears.
8. A "No Effect" entry action on click in PowerPoint becomes Build In Style "None" in Keynote, and all subsequent actions in the build become automatic.
9. Text Object with Fill Color in PowerPoint loses its color in Keynote.
10. In a Flow Chart Autoshape, text centered in PowerPoint appears way too low in Keynote.
Despite these apparently undocumented discrepancies, I am amazed at how well a large and complex PowerPoint presentation imported.