@Gx_saurav - My opera became laggy while scrolling through your blog
Nope, This is VistaaaaaaaaaaaaaaaaaaaaWhy not use a simple theme?
^ there are two options.
One is by database backup and another is by import-export xml. Database backup is messy so opt for the import-export xml.
In your old blog:
Go to your wp-admin > Manage > Export > Download Export File
In your new blog
wp-admin > Manage > Import > Wordpress > Browse and select the file you exported earlier and click on "Upload file and import".
I will retain my earlier posts including the posting date & all??
Someone confused me saying you can't backup your old posts in new blog, for that you have to get the databse from wordpress for a fee.