Thank you, Pawel, for raising the issue detailed in my JIRA FAQ comment. I've resolved not to continue the "fight" on the more general semantics issue (i.e. JIRA confusing Severity with Priority), but this singular Mantis import issue can be a deal-breaker for those wishing to move their issue tracking enterprise to JIRA. If, in the absence of a built-in Severity field in JIRA, the Mantis Severity values are getting mapped to Priority, then the Mantis Priority values are getting lost in translation, and really need to be mapped somewhere. My contention was that, since the import plug-in is happily creating a "Mantis ID" custom field and populating it with the original Mantis issue ID, it shouldn't be a big deal to generate a "Mantis Priority" custom field and populate it with the original Priority field values from the incoming Mantis issues.
To your question regarding what former Mantis users might expect the most from the JIRA importer: I'm quite certain it would be not to lose any data on the way over. JIRA really is a new mindset; a new and wonderful way of working issues. Mantis users migrating to JIRA really do need to get over themselves and acclimate to the new paradigm. But working with Priority values in Mantis that are now just not there in JIRA is a bit jarring. The importer really needs to bring them over, too, and find a place for them. My above suggestion seems to be the best course of action...and probably not a big dev hit at all.
Tested with Mantis 1.1.8, Mantis 1.2.4, Bugzilla 2.20 and Bugzilla 3.6.3 with various combinations - built-in priority vs. custom fields - looks good now