I upgraded from 20 to 120 recently and don't have to be signed in to use my old stuff.
I didn't touch that licence transfer thing at all (I don't even know where it is, how to access it, or how much it costs, as I didn't need it a month or two ago).
Worst case scenario, you may have to go through your download history and redownload the items. It won't really redownload them, as it will stop the download once it finds it on your new HDD. It's a fairly quick, though annoying process. It takes longer to queue up and start the download than it does for the 360 to find and "resync" the items - that says as much for the lack of downloading as it does for the clunky interface.
Anyone in or around Wollongong got a HDD transfer cable?
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