Adding iPhone to existing iTunes Account

Greetings!

Question...

I currently have an IPod Touch and am using iTunes on my Windows PC.

In a couple weeks, I am planning to purchase on iPhone 4S.

I am curious as to what I can expect the first time I connect my iphone to my computer and load itunes?

I have dozens of apps, games, albums, photos on my ipod touch....As you could expect, many of these apps I am going to want on my new iphone. I plan on keeping my touch..I might decide to use the touch for all of my music.

Is the process going to be failrly common sense, where I can easily move or specify which apps I want on my new iphone? IS there anything I need to be cautious about?

I am sure this is a failrly common practice but I just want to make sure I am not going to potentially do something that will cause any issues.