Using the Hard Drive from my old iMac

Question

I have just purchased a new 2.8 Intel core 2 duo iMac and was wondering if I could somehow use the hard drive from my old iMac.
What I have done is buy a case for the hard drive from my old iMac thus making it an external. The question that I have is that since it [the old hard drive] is running OS 10.4 will my new Intel iMac even recognize it.
I would like to somehow switch ALL my vast iTunes library from the old hard drive to my new Intel iMac without have to resort to making as many as 15 data disk. If such a thing is possible how do I go about doing so?
Another thing that I would like to do once my iTunes library is on my new Intel iMac is use the old hard drive [since it is 500GBs] as the platform for all my games and my publishing interest. Doing so would allow me to free up space that I could more readily use for other interest on the 350GB hard drive that my new iMac came with.
HOW do I go about wiping the old hard drive clean so that I can use it thus?
Thank you all for any and all help and insight that you might give me.

Answer 1

You might also consider connecting the two computers into a network, and then transferring the files you need, or even keep both computers online and use network sharing to access files from both computers.
In reference to your question, if you extract the hard drive from your old Mac and put it in an external case, your new Mac will read it no prob. (10.4 is compatible with 10.5). The hard drive can be formatted (wiped clean) using Disk Utility application (click Application, Utilities).
In terms of importing files from old to the new Mac, you might consider using using the automated OS X feature to transfer user files from another Mac.