Even with all the QEM changes and simplifcations, i.e. shortcomings, I was still willing to try QEM. I had too, because it is the only Quicken that works with Lion.
(PS...I am a 15 year user of Quicken)

QEM has no ability to merge or import any data once you have started a file! It will not merge or import csv, qif, etc.

I have started to use Neatworks for scanning receipts. You can then export your work to older versions of quicken, but not QEM.

QEM will allow you to attach a pdf of a receipt, but it is clumsy and slow and silly(not simple).

Another warning that this product is not ready to be seriously considered.