Before I open a bug in Bugzilla, can anyone else confirm that they also experience this problem:
When importing ICS files via the command line, the alarm information is lost (no alarm is created).
To reproduce:
Create an appointment with an alarm set.
Save the appointment as an ICS file, filename.ics.
Remove the appointment.
From xterm, import using the command: gpe-calendar -i filename.ics
Check the status of the alarm of the imported entry.
Check the filename.ics that the ALARM stanza is, in fact, there.

I've found that regardless of the fact that the ALARM stanza is there, it doesn't set the alarm information on the imported ICS file.
I'm attempting this on the N800 with GPE Calendar version 0.73-21

Note: Same results if importing via the GUI.