Going from Office 2007 to 2010 and need to import the NK2 file?

When moving from a PC with Office 2007 to a machine with Office 2010 you will need to import your nk2 file. To do this, first configure Outlook 2010 on the new machine, then copy the old NK2 file to the appropriate location:
Vista/7 c:\users\USERNAME\appdata\roaming\microsoft\outlook
XP c:\documents and settings\USERNAME\application data\microsoft\outlook

Then start outlook with the following command: outlook.exe /importnk2

Once Outlook opens you will notice there is a "suggested contacts" spot under contacts, this is where the NK2 information is imported.