Pete is correct that you can build the new server as a new server in the same site and use the Move Mailbox command in Exchange Administrator to move the mailboxes. This is the preferred method according to Microsoft. I've used it a few times, butI always end up with some sort of grief when I remove the old server. Not insurmountable grief but grief nonetheless.
So there is an alternate procedure called a "forklift" migration and you can find details on that in article Q199954 on TechNet. I like it because it leaves the old server fully intact until you determine the new server is working properly.
You can also do an on-line restore from tape or use the procedure that Microsoft recommends for moving a server to new hardware (article Q155216).
Whichever way you choose, make SURE you have good backups, both on-line and off-line. If you do, you can always find your way back home no matter how badly things go.
I've done them every which way, and I prefer the forklift butyour mileage may vary.
paul