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I would like to upgrade from pse4 to pse5. I dont have a clue how to transfer all my downloaded fonts, brushes and the actions i had purchased. Can anyone give me step by step directions for this?

Hi. Elements uses the fonts installed on your computer so you don't have to transfer them.

Your brushes can be put in a folder and accessed from the program or installed into it by putting them here
C:/Program Files/Adobe/Photoshop Elements 5.0/Presets/Brushes
If you have any plug-ins they follow the same path as above except choose Plug-ins folder instead of Presets.

Actions and styles are different. They go
C:/Documents and Settings/All Users/Application Data/Adobe/Photoshop Elements/5.0/Photo Creations/Special Effects.

The best thing to do for adding anything to Elements is to purchase Graffi's Add-o-matic. It is well worth it. I will post back with a link.