I've had ti work (opening a ProE file in SW). What I noticed is issues with features that SW itself doesn't create, obviously, or how SW creates compared to ProE. Case in point, using multiple sets for fillets in ProE will not come across. I'd imagine some patterns and such wouldn't come across either. I think the groups I had of features in ProE dropped out, but the features remained there.
If your model isn't TOO complicated it can do a decent job, depending on what you need it for. I just needed to import to test out some design ideas, which I re-created in ProE. Was an issue between work laptop and home machine. I didn't have access to the work laptop that night.
If need to do "real work" on the imported model, you'll have to be real careful to check all features, of course.
Good luck.