firewalld versus old iptables setup?

[Tom Horsley]

I see in f17 that firewalld is the default and iptables and
ip6tables are not enabled by default.

So if I have an elaborate /etc/sysconfig/iptables file
that has grown over the years to do all sorts of complicated
stuff, how do I port it to firewalld?

Is firewalld nice enough to just go ahead and apply the
/etc/sysconfig/iptables file at startup should I happen
to create one?