This post is meant to both help someone with the same problem but also perhaps get some tips from others. I have extensive music playtlists that I have taken a while in creating and have had a tremendous amount of trouble importing them into a music player upon a reinstall. I like Banshee but when I import them in as .m3u files, they show up as playlists with their correct names in the left column but always empty i.e. zero songs. I have searched through forums and help pages to no avail.
In addition I have tried Rhythymbox, Clementine, Audacious, Guayadeque, and Musique with no success. I like the look of Musique but it doesn't seem to support playlists at all.
I have found only one music player that flawlessly and easily imports my backed up playlists - Exaile.
I prefer Banshee's features but Exaile is what I am sticking with as a result.
So for anyone struggling with this I recommend trying Exaile. And if anyone has figured out how to make this work on Banshee please weigh in. (FYI I am running LM 15 and Bansheee 2.6.0)