Regarding the import settings, for a local Windows installation using a 163MB sql file (production database) for the import, it always times out at 5 minutes irrespective of the options chosen.
Whereas importing from the command line takes 18 seconds. I usually put the sql in the mysql/bin directory to avoid having to type paths and open the terminal in there.
Command:
mysql -uDATABASEUSER -pPASSWORD DATABASENAME <FILENAME.sql
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