No.
Different rules, different characters, different stories.

There was a mod in the works to convert BG2 into the IWD2 engine, but there were a bunch of technical problems (no EFFs in IWD2, hardcoded projectiles, etc) that stopped it long before it was done. AFAIK it's been neglected for a long time now.

I don't know of any efforts to convert IWD into the IWD2 engine, but there IS an effort to put IWD into the BG2 engine. That's not really "combining" them, though, because they're only tangentially related to each other.

What for? To get the feats and high level abilties?

Presumably, along with stuff like proper dual-wielding and mage-centric spell selection. Unfortunately I can't remember the name of the project at the moment, but I'm fairly sure it's on the SHS site somewhere.

Icewind Gate II

Yeah, I knew about that one. That's the BG2->IWD2 one that's been stalled for ages. The one I can't remember is IWD1->BG2, and AFAIK is still in progress.

Try This - IWD to BG2

what for, you ask, easy, to make it one long quest since they both are one continual story.

NM

Another thing, Icewind Dale 2 actually takes place before Icewind Dale 1, in the story.

Thought it was supposed to be set something like 30 years after IWD1...

It is, according to Firtha and a few others. Really though the stories don't have a whole lot to do with each other apart from taking place in more or less the same location and sharing a few characters.

There was a project started over at Gibberlings 3, but it appears FredWRichardson has lost interest...

I am pretty sure that IWD2 takes place in the past, but I'll double-check. I think it does based on an early impression. This stayed with me, and it must have been inspired by the game because I remember saying to myself I didn't like that as much as I would have liked it to be set in the future. If I'm wrong, I'm wrong, but there is also the fact that the Severed Hand in the first game is as haunted as it is, I believe, because it stayed like it was after being deserted at the end of the second game.

I'm sorry if I'm wrong, and "Wow!" to me that would be a mind-bender because the paladin in my party in IWD2 was "made to be one who inspired the paladin I used in IWD1" in the background I gave her. A woman heroine in as bitter a place as IWD2 seemed original, and I made this story up because I couldn't continue with the same character "after IWD1".