Merging RTC Repositories

We have the situation where we have several Products in a Product Stack which have interdependencies on each other using various RTC repositories. One subset of products in the stack is using 1 RTC repository and 2 other Products are using 2 other RTC repositories. We need to merge these 4 repositories so that we have all of the products in the stack using the same RTC repository.

From what I understand there is no Project Area Import/Export or repository merge capability in 1.0 or 2.0. Is this correct?

We are only using Work Items, not the SCM. Assuming the Work Item schemas were the same (or compatible), would it be possible using the Java APIs to query the Team Area structure, Users, and Work Items from one repository and create it on another?

Is there a better solution now or in the works?

Thanks!