Originally Posted by Grandor Dragon 
Yep, played it twice, and while the game has some annoying flaws (no patch can save the entire inventory system - does anyone know if ME2 will improve this?)
BioWare says they've completely rewritten it. I haven't seen a third-party description of how it works now, though. (BW also said that changes to the mechanics, such as this one, is the main reason they dumped character continuity.)