Aside from the whole Triss thing, I do really prefer how The Witcher 2 did it. Mass Effect made me realize that I don't particularly care for between game C&C.
1) Because they keep bringing back the same 10 people, even though you're a world away.
2) Because I can't trust them for the rest of it, anyway.
The small things they can manage to keep changed make the setting feel smaller. The larger things they can't afford to change for locking content out.
Perfect example is Dragon Age 2 with Lelianna. There was some ruffled feathers about how she could have died in Origins, but showed in in 2 anyway. And the only thing I could think about is that it wouldn't have mattered if they hadn't had her pop up in Kirkwall, period.