Guitar Hero 5 will allow you to import tracks

Tracks from previous Guitar Hero games World Tour and Smash hits will be importable into Guitar Hero 5 even on Wii

While Guitar Hero is a great party game, having to change disks, re-setup the game and start again is a pain in the neck. Harmonix know this and have allowed Rock Band 1 to be imported into Rock Band 2 and now Activision will follow suit with Guitar Hero 5 and Band Hero. Like Rock Band a fee will apply.

World Tour and Smash/Greatest Hits will be the only games so far that are able to be read and imported in and not all tracks will make it in due to licensing issues. Speaking to IGN, Tim Riley, head of music licensing at Activision has said "Its something weve wanted to do for a while now. They are separate licenses, so we need to go back and re-license previous content. So, songs from World Tour, songs from the download space, songs from Smash Hits that will technically work in Guitar Hero 5 and Band Hero had to be renegotiated…We didnt want to do it for a couple songs. We wanted to do it for a couple hundred songs. So we have a lot cleared and were in the process of clearing a lot more."
It’s only a handful of songs missing it with a total of 152 of 158 being capable to be copied. Download content from World Tour will also appear straight away in Guitar Hero 5.

This has been one of the most requested features of the Guitar Hero games for a while and it’s great to see it being included. Exactly how to copy the songs will be revealed in the coming days says IGN.

Source: IGN