XBox 360 slim transfer?

I don't want to buy a transfer cable to get my info onto my new 360 Slim. Can I just recover my gamertag on the new system, or move it over with a memory card or flash drive and then manually re-download all my games? I'm getting a lot of mixed answers. Some people say if you recover it you "might" lose some stuff. I don't understand where a "might" could possibly come into play.

Also, if I re-download my games, will I have a problem with licenses? When I first got my 360 phat I downloaded stuff on my friend's XBox onto my hardrive, but when I plugged it back into mine I had to go online and transfer all my licenses before they would play. My friends ALL download games and swap them around all the time, and they never have this problem. The website also said I could only transfer licenses once a year. I AM VERY CONFUSED. Is there any free and easy way to get this all done???

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