As I and others have said before, Core Data is really an object-graph management framework. It manages the relationships between model objects, including constraints on their cardinality, and manages cascading deletes etc. It also manages constraints on individual attributes. Core Data just happens to also be able to persist that object graph to disk. It can do this in a number of formats, including XML, binary, and via SQLite. Thus, Core Data is really orthogonal to SQLite. If your task is dealing with an embedded SQL-compatible database, go with SQLite. If your task is managing the model layer of an MVC app, go with Core Data. In specific answers to your questions:
There is no magic that can automatically import complex data into any model. That said, it is relatively easy in Core Data. Taking a multi-pass approach and using the SQLite backend can help with memory consumption by allowing you to keep only a subset of the data in memory at a time. If the data sets can be kept in memory, you can write a custom persistent store format that reads/writes directly to your legacy data format from within Core Data (see the Atomic Store Programming Guide).
Building a complex NSPredicate
declaratively is somewhat verbose but shouldn't scare you. The Predicate Programming Guide is a good place to start. You can, of course, also write predicates using a string format, much like a string-formatted SQL statement. It's worth noting that, as described above, the predicates in Core Data are on the objects and object graph, not on the SQL tables. If you really want to think at the level of tables, stick with SQLite and write your own wrapper.