Just got back a couple of hours ago from WA state with my brand new Prius.
Here is a step-by-step guide on how to import your Prius, based on my experience:
(a) Find a Toyota dealer who’ll deal with you. This is a lot more difficult than it sounds, since Toyota does not allow its US dealers to sell to Canadians.
(b) Finalize the deal.
(c) Send all the required info to US Customs (see my previous post) at least 72 hours before your pick-up time.
(d) On the day before you pick the car up, get a temporary insurance binder from ICBC (or your provincial authority). This will allow you to drive the car home, provided the dealer set you up with temporary US permits.
(e) Go across the border.
(f) Pick up your car.
(g) Go back to the border crossing. Present your MSO to US Customs. They’ll compare it against the information you had sent them, and then they’ll stamp your MSO. This took about 45 seconds.
(h) Go to Canada customs. They’ll fill out RIV Form 1 for you. You’ll pay $206 RIV fee + duty + GST. All can be put on a credit card.
(i) Go home (don’t collect $200…) 
I picked it up from the dealer just in time - they told me that Toyota is applying more and more pressure, and that they (the dealer) have now suspended sales to Canadians. Up until now they were just about the only dealer in WA state to sell to Canadians.
— Oren
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