Hmmm.. I have also got this issue.
I had accidentally deleted my ME1 save file a while ago so I thought I would play through them again, I managed to make my Shepard look pretty much how she was.
I've just finished playing through ME1 and ME2.. received ME3 today and literally just went to start it now... I can't start playing it until I have my proper character, I cannot recreate her, she looks ridiculous when I try.
Looks like I'll have to wait as well, I haven't tried importing my male Shepard (Original playthroughs) as I want to finish my female Shepard, also I doubt that it would work as I did the same thing with him too, didn't modify in ME2.
Really REALLY hoping they will fix this, I see Mass Effect more as a story than a game so the details some would say are insignificant I find important.