James Seng has written a Perl script to convert MovableType sites to Drupal. This sounds much easier than Morbus's script, and it's compatible with Drupal 4.4.x (Morbus's is for Drupal CVS only). However, those that wish to preserve comment author information will have to use Drupal CVS (not for the average user) or wait until the MT style commenting module is backported to Drupal 4.4.x. Otherwise, users, categories, blog posts, and trackbacks get converted over. Archive urls are preserved, and the MT site can even be imported into a currently running Drupal installation.