I encountered this same problem. Once it was announced that bans would get the "gamesave hackers", I decided to "cut my losses" as RichMR2 suggested. Here's what I *do* know, however.
I had the import version of Bullet Witch. When the US version came out, I rented it and wanted to play from the point I left off at. Unfortunately, it creates a new save/achievement set, though they are identical to the japanese ones (other than language, of course). Loading my gamesaves, I discovered that I could simply copy the gamesaves from the japanese version's directory to the american version's directory.
Now your saves themselves will depend on the game. Generally, if the game(not the xbox) signs your profile in, but then loads your save seperately, then you can load your current profile and load those saves. Most games, however, tie them to your profile as well. I had quite a bit of progress on several games, but since they're all under my pre-live gamertag, I can't do anything with them. Hacked gamesaves won't run generally, anyway (360 says it's corrupted); prolly checksum doesn't match.
If you discover anything, however, please feel free (urged, even) to post!