|Yes, or use Copy/Paste. Put it in the same folder where the new outlook.pst is located (overwrite the new one with the backup copy). Make sure Outlook is closed before doing that.|
On Windows XP, the default location of outlook.pst is here:
C:\Documents and Settings\user_id\Local Settings\Application Data\Microsoft\Outlook
You may have to enable "Show hidden files & folders" in order to find that location.