These are the other things you need to make sure you copy over. If your web.config file is older however, as in it was from dotnetnuke 1 or 2, it wont have the keys or anything in it (which could explain why you didnt see it, they just added that stuff when they began naming the file 'release.config' by default), and you dont have to worry about them until you upgrade (like to 3+ or 4), then make sure you copy all of the information over.
<add key="SiteSqlServer" value="Server=7.8.2.1,23;Database=audio32xT;uid=Myuid;pwd=usm38fTJ;" />
<add key="MachineValidationKey" value="DB02CB97BAE1814E49F1310895EC33B22FC70014" />
<add key="MachineDecryptionKey" value="6E324A6FF2B87D590B71D61FDD95C82A137C980893117CF0"/>
<add key="InstallationDate" value="11/19/2005" />
If you have made any further changes to your web.config file for third party modules, HTTP compression, or database object qualifiers, copy these changes across to the release.config file
If you have enabled HTTP compression, disable it until you have completed the upgrade