I still play 4 but i was curious i saw there was an option in 5 to transfer your char has anyone done this? And is it any diffrent by making a new char?

Yes you can transfer your character from 4 to 5 (and 5 to 6). It involves copying the party files from u4 to the u5 path and using that option. You get nerfed quite a bit but if you have a well developed u4 character you still end up a couple levels ahead of a new character. It only transfers name, gender, stats, and experience, there's no tie to story etc.; and all new characters in U5 are avatars.

However, apparently there's a glitch in the GOG versions that prevents character importing from working properly. Click here for the details.

The utility linked below says it'll enable character transfers. I haven't tested that part of it yet, but have used it to simplify patching Ultima IV.

Utility:
http://www.pix.oneuk.com/UltimaPatcher.rar

Notes from the creator:
http://originadventures.wordpress.com/2011/09/08/ultima-patcher-update/

I only have images from the original floppy discs and am using my own install of DOSBox but I got the transfer working by emulating an A: Drive (i.e. floppy disc drive) using the DosBox.conf file. Then I copied party.sav (for U4) and saved.gam (for U5) into the "A:" drive. When being prompted for a drive letter by U5 and U6 I typed "A" and the import worked fine.

I've already emailed GOG, but as I'm not using the GOG version to do this their problem may be a lot more complicated... try it and see if it works!

"Nerfed" in this case means:
- you retain 10% of your experience, which will be over 6,400 if you beat Ultima IV, giving you a character of level 4 (400-800 exp) or 5 (800+) when newly-created characters are level 2
- your stats are halved, which is fine, since the stats in U4 are in a 1-50 range and the stats in U5 are 1-30; still, stat scores in the low 20s is better than anyone you recruit, and seeing as levelling up gives you one bloody point in one of the three stats, a few points can make a very, very big difference

Beyond your starting ability scores, though, it's the same game. You don't even get better stuff as a bonus. Of course, it's a worthwhile adjustment, saving you from some early-level grinding (because, hey, you've obviously got a bit of a handle on the system, since you beat the previous game, so you don't need to relearn everything) and making the Avatar more the demigodlike being he or she is supposed to have become. Those few stat points really do make the Avatar stand out in the crowd of followers. They're not the be-all and end-all, since Origin knew how to balance their games properly; they just make the Avatar look like, say, Superman compared to the rest of the Justice League.
Of course, the enemy is well stocked with Kryptonite... Anyway. Enjoy.

There is nothing different about how the GOG versions handle saving; on on Vista and newer non-elevated writes to Program Files are redirected to an equivalent VirtualStore folder (%LOCALAPPDATA%\VirtualStore). This is the normal and expected behaviour when running old games on modern Windows, whether bought from GOG or elsewhere.

As long as you are pointing the import function to the VirtualStore folder--not the installation folder--everything will work as expected. The same goes for tweaking or interacting with the user data of most other games GOG sells.

Ah, I played a shepherd in U4 to get humility out of the way early and because the combat was pretty easy. Felt pretty nerfed after taking out Balrons when a pack of rats could kill me in U5.

The "import functions" are pretty crude in U5 & U6. You only get to type a drive letter. Both of these games will be DOSBox games as well. I'm unclear as to exactly what problem GOG are experiencing, but I've given them a complete transcript of the procedure that works for me. Hopefully they can use that to sort it all out.

If "PARTY.SAV" exists on the A drive, Ultima 5 doesn't even ask for a drive letter, so just tried this out, and it works for me in XP:

First I created a folder named 'U4TRANS' under 'C:\Program Files\GOG.com\Ultima Second Trilogy\'

Next, I modified the [autoexec] section of 'C:\Program Files\GOG.com\Ultima Second Trilogy\ULTIMA5\dosboxULTIMA5.conf' to be as follows:

[autoexec]
# Lines in this section will be run at startup.
@ECHO OFF
mount C "."
mount A "..\U4TRANS"
mount B "..\ULTIMA4"
copy b:\party.sav a:\
mount -u B
c:
ULTIMA.EXE
exit

Same general thing works for Ultima VI, except you have to manually select the A drive during transfer.

Create 'C:\Program Files\GOG.com\Ultima Second Trilogy\U5TRANS', and modify the [autoexec] section of "C:\Program Files\GOG.com\Ultima Second Trilogy\ULTIMA6\dosboxULTIMA6.conf"

[autoexec]
# Lines in this section will be run at startup.
@ECHO OFF
mount C "."
mount A "..\U5TRANS"
mount B "..\ULTIMA5"
copy b:\saved.gam a:\
mount -u B
c:
ULTIMA6.EXE
exit

To append to jczorkmid's directions you can also specify a full path instead of a relative path if the installed games don't have a shared parent on your end.

well have to finish 4 anyway :)

I tried this method and the game didn't crash (it did before). Only problem is it found "Mariah" a "level 2 Mage" and declares this character is not an avatar. WTH? Even that isn't right. When I finished U4 Mariah was level 5.

thanks for the reply nno i was just curious i havent finished 4 yet :)
nm didnt know it was an off topic answer.