there are 2 basic approaches I have seen used.
1) insert part into assembly mate it into the orientaion you desire, the assmebly planes will be your new part planes. save as a part. save the part as a step, parisolid, or other "dumb" solid. open step file, confirm plane orientation and save as a SW part.
2) use "move/copy body" to re-orient the part with respect to your planes.
I like to import model, create a coordinate system where I want it, and export to parasolid using the new coordinate sytem. Now when you import, it will be in the position you want.
Thanks everyone! I really appreciate your rapid responses.
I used the Move/Copy Body command like Jeremy suggested and it worked like a charm. But I will definitely keep the other methods in mind for later use as well.