For the applications I think you would need to install them again from the new raspbian repo, as most will be re-built to use the hardfloat libs etc.
To get a list of packages use
dpkg –get-selections which will list all things you have installed on your current system. You can then use this list to re-install on the new machine.
There are several discussions on this such as this one http://www.ubuntugeek.com/clone-your-ub ... ation.html
For the home directory I use rsync on my mac (need to install it on the pi as well) to copy the home directory to my mac and then just scp it back when I build a new image.