The above info is correct, but you'll probably want to use the regular installer to migrate over just to make sure the entire install goes over cleanly (there are more parts than just the aircraft folder).
It will ask you to re-activate, but it will not burn one of your activations if it's on a machine which has already been activated before.
I don't think it's a huge deal in the current iteration of the product, but I think it's worth noting that other products with custom nav databases and FMCs have no issue with lag despite being able to program routes over 2000 nm, so it's not impossible nor impractical to do so in the future.