This isn't quite right...none of the metadata is collected ahead of time - though I guess you could actually upload a properly-formatted xml file with the rest of the files, cross your fingers and hope for the best.
After you upload the files and import them, you'll see a red link that says something like "This import will not be complete until you enter metadata by clicking here". Lots of folks miss this step and close their windows, assuming all is good. You have to click that link, the metadata window will pop up, and THEN it will try to automatically populate that form with info it's gleaned from your info file. As long as your info file follows something close to a standard format, all you should have to do is verify that the metadata was grabbed correctly (make sure you take out information and markings about encores, segues, special guests, and whatnot - the metadata should be song titles ONLY, for purposes of future searchability, as well as file tag creation), click "Update", and then the importing process will begin.