Copy the media files to the new PC, making sure you use the same drive letter and directory structure.
Copy the project file to the new PC with the same drive letter and directory structure.
Open the project, let the program index and conform the files, re-render if needed and you are off.
Thanks Eddie. The 'Help' reference was right on. I followed the instructions and chose space on another drive. Once it had completed, I copied the new subdirectory that I had created as the target to the new computer. Harm, thanks also to you but I did not have to respect the drive letters or original subdirectory structure. After the copy had completed, I opened Premiere and navigated to the location and opened the project. The only thing it complained about was the scratch locations and I reset those to a 'custom' location. Then I scrubbed through the timeline, rendered the transitions and was home free!
As an 'FYI...', my new system is a homebuilt i7 920 @ 2.67 Ghz (no overclocking needed), 12 Gig Ram, and an Nvidia GeForce GTX-260 video card and the combination is fantastic. the scrub, playback, render are smooth and flawless. No jerking or pixelization problems. The old project was shot with a Sony SR-1; a new project with a Sony XR520v at full HD.
The old system was a DuoCore 2 Q6700. The difference is nothing but amazing!
Again, thanks for the assistance. (I had searched but forgot the obvious!)
You're welcome. I'm glad it worked for you.