Hi cromadbomber, here's the object in blender with that same object. You see the loop is also "hard/sharp" and has a crease on it, but when subdivided it keeps the loop sharp but still subdivides it.
Hey all, I have just modified the Seams from UV isles script so it now marks edges as sharp, rather than making seams, and i thought that some people may find it useful for adding quick smoothing groups etc. :) Sharp from UV isles (current version 1.0.1) *Updated on 15th August 2011* You can get the script from HERE