Mark,

You can create a template from the current site and use it to create the new site with the layout and skin.   However, I think that there are a few core modules that may carry over the content also (links, and possibly text/html... not sure).    I also believe that most module settings will not come across in the template, though the pages will be there with the modules on each page, so a template may get you close.    If creating the new site on the same install, it should work out  fine, if adding to a new install, make sure all the necessary modules are there.