Importing user profiles - used to import the user properties from any directory , by default - from domain controller or some other directory as ADAM using LDAP parameters.
main reason behind this import is to sync the user properties in the directory at par with moss user profile.
Eg - if the user mailid or office location is changed in AD, user profile service will sync the moss user profile.
Adding user profile - some of the services accounts such network service/enterprise domain/ domain admin account not imported by the profile import can be added via add user profiles