As mentioned in my previous post I had exported from a wordpress.com blog and imported to a self hosted WordPress setup.
The process was really easy and to be honest I was surprised.
In looking around to see if you could do an import/export from 2 standard WordPress installs I found that only the hosted wordpress.com blogs have the export function built in, it is not available as of the 2.03 version of WordPress.
What is available is the WPexport plug-in by Eric Pirece that gives you ability to export from you standard WordPress blog which would give you the ability to import to the majority of other blogging platforms (Blogger, Movable Type, Type Pad, etc).
One final note about exporting from wordpress.com – it was really nice that when I imported it to my other blog that it automatically created the categories for each of the posts as well – cool.