Wow, I just needed something just about like this. If there will be an option to drag and drop full Picasa albums (I see them in the frame) into Flickr and they appear as Flickr Sets, I'm in. Good work there, keep up.
The UI needs some work IMO, feels a bit oldschool.
Tell me one more thing: are visibility settings compatible? If an album is private on Picasa, will it be private on Flickr?