|...or just copy your user folder to a usb stick and have it over with...|
Go My Computer > C drive > Documents and Settings > [your username] and copy the favorites folder to the usb stick. For the Outlook Express files the easiest is to search for *.dbx files, (remember to search in hidden files and folders), then just copy the files to the usb stick as well.
When copying the stuff from the usb stick to your second computer, put the files in the same folders as where you grabbed them from.
For favorites: C:\Documents and Settings\[username]
For Outlook Express: C:\Documents and Settings\[username]\Local settings\Application Data\Identities\[a friggin long combination of letters and numbers]\Microsoft\Outlook Express
Note that some of the above folders are hidden, so turn on view for hidden files and folders through control panel > folder options > view
Overwrite all files on the second computer, unless you want to save any mails you've got there already.