Moving hard drive to a new box

This question actually concerns Freebsd 3.2, but it also may apply in the Linux world.
Basically, I want to take my hard drive, running FreeBSD 3.2 in a 486/66 with 16 MB RAM and move it to a new machine (A Pentium III xxx)as the primary drive.
Can I do this?
If so, any gotchas (like recompiling the kernel, etc?)

Thanks