I think that you mean your IE Favorites. OE does not use Favorites.
What I would do:
E-mail the *Favorites* folder (as an attachment) to myself... either at work, to a web-account (yahoo.com) or to my IE account.
When the new computer is set up, you can then download the folder from your e-mail and save it (overwrite) in your new *Favorites* folder.
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How to E-mail *Favorites* folder w-WinXP (or some such)...
1. Open "My Computer" (on your desktop or Start menu).
2. Open your "C" Drive. Then open "Documents & Settings."
3. Inside D+S, look for your /user/ name (it is not "all users").
4. Open your folder. Right-click on *Favorites.*
5. Click on the "Send To" option. Chose "Mail Recipient."
Note: If your *Favorites* folder is not where it should be, you can find it by opening your Favorites list, right-clicking on any folder and then clicking on properties. Properties includes a location description.
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Its a lot easier than burning a CD and then copying from that... Although, if you have a lot of data on your old computer that you want to transfer, burning a CD may accomplish more.