Remote access into your Sharepoint server. Open command line access, and navigate to C:\Program Files\Common Files\Microsoft Shared\web server extensions\12\bin.

Run stsadm -o export -url http://<server name>/<server path>/<site name> -filename <path to export file> -includeusersecurity -versions 4

Exports the site data to your output file. Creates a file with a .cmp extension.

Then create the new site in the location you want in Sharepoint. Make a note of the new site address. Delete any unwanted welcome posts, category entries, etc. Imported data is amended not replaced.
Open command line access, and navigate to C:\Program Files\Common Files\Microsoft Shared\web server extensions\12\bin.

Run stsadm -o import -url http://<server name>/<server path>/<site name> -filename -filename <path to import file> -includeusersecurity

Data is imported into new site. Check that everything you require is there, and then you can delete the old site.