Bulk generate hierarchical vocabularies
I recently created a hierarchical taxonomy on our main premium site using some data exported from our SQLServer and used Taxonomy CSV import/export to import the file. I used LibreOffice Calc to massage the data into place, then exported from LibreOffice to CSV. A Google Docs version of my data  is available, if you're interested.

Two things I remember doing:


I choose to import as a 'taxonomy_manager' file
Any term which will be used as a parent needs to appear at the top before any of its children appear.