I want to say almost everything outside of sidequests carry over to NG+, but I haven't started it yet so I don't know for sure.
It's definitely worth playing Torna before starting NG+, though.
Great, thanks. I will dive into Torna before moving on. Do you mind explaining why you decided to continue the game on your original save file rather than switching over to NG+? I'm really torn on which direction to go. I've actually never played NG+ in any game I've owned, but I'm surprisingly not ready to move on from XC2 after 130 hours. There's still a ton of content left, obviously, with many blades left to acquire. I'm just not sure if I'd be better served playing more in NG+ vs my current save.