It _is_ pretty basic, and tens of thousands of people have done it, Paul.
You say you have "the Entourage program, along with
Database, in a file called Microsoft Entourage 2001 in Macintosh HD on my
new computer". That sounds muddled. The application file called Microsoft
Entourage, if installed, needs to be in a folder called Microsoft Office
2001, along with the other apps (Microsoft Word Microsoft Excel, Microsoft
PowerPoint) and a lot of supporting folders (Office, Templates, etc).
Normally that whole folder is in Applications (Mac OS 9), but it can be
anywhere. I'm not sure it's good enough to copy these folders and files over
from a previous computer, since there are a lot of other items involved in
an installation. In any case, the application file should be called
"Microsoft Entourage": if you ever renamed it to "Entourage 2001" rename it
back again: it should be called "Microsoft Entourage".
As Gil says, it's enough to have the CD inserted in the CD drive. So I'd
guess that "Microsoft Entourage" could be anywhere you want.
The Database file needs to be with its siblings the Messages, Database
Cache, Rules, Mailing Lists, Schedules files in your Identity folder (Main
Identity, or whatever you've renamed it to), normally in the Entourage 2001
Identities folder in the Microsoft User Data folder in a Documents folder. I
suppose that too could be somewhere else, but you _must_ have the whole
Identity folder intact or importing won't work. Most people bring over the
whole MUD folder, but the Entourage 2001 Identities folder should probably
be enough, I think.