There are several ways how to do it. Have in mind that hostid will change so you will need to obtain new auth codes.

I guess the easiest way is to install new server while isolated on NetWorker. Dump all client names (and on admin list) and put it to hosts table on isolated new box. Then on original box stop NW and copy it to some removable media (DVD) and put it on isolated (new) box (before doing that unload all drives). Start it up and see what happens. Nothing special should happen - things should be in order except that you will need new auth codes to enable server. Then stop both boxes, swap controller, power up new one and that's it. At this point you can put auth codes and the only thing to check is if device order is the same as on old box and to check if control port has changed or not (probably did, but you can change that to new one from jukebox properties).

As I said, in few details, this is approach I would take. There are other things to pay attention to on finer level, but I think above should be enough for a start.

Above is under assumtion that new server will take place of old one and old one won't be client of the new one (if that would be the case, there is also article in KB on how to do it).

Thanks for your reply. You are correct that the new server will be a replacement for the old server which will be decommissioned and never be a client of the new one.
I now have a good sense of what I need to do and will also read the KB article to determine the finer details. Thanks again.

The supported way is to treat it as a DR of your existing Networker server - ensure you have a fresh backup of indexes and bootstrap (use savegrp -O) then go through the mmrecov/nsrck -L7 process. As Hrvoje says, your hostid will change (the way it is derived depends on platform). Its best to migrate to the new hardware with same version then do the upgrade.

Thanks, I'll review the process in the Disaster Recovery Guide.