Quick Question: "Transfer Information to this Mac"

Hello.

I just purchased today the 15inch MacBook Pro (NOT the new Retina Display).

As part of the setup, it asks if I want to "Transfer Information to this Mac" - which I would like to do from my old Black MacBook.

My question is this:

If I click the transfer, does it transfer EVERYTHING, or do I get to manually select what gets transfered over (such as some music and documents, but not all).

Thank you for your time and help!