I ended up watching maybe a minute of the stream because I was busy with other stuff. Looked intriguing, but you don't really learn much from a minute or so...
Yes, all the levels carried over but a lot of the DLC I bought was flagged as me not buying it. I was just so annoyed that I sold the copy eventually. The bugs didn't help either.
Sounds like me and the free copy of Wipeout HD I got after Sony was hacked... Curiously, I still have Wipeout HD Fury, but it's useless without the base game. I'm still pissed about it. Sony screwed up information security, and then they screwed up the compensation as well.