I downloaded the new version of I-tunes today, then backed up my I-phone 3 to it, Now I cannot find the backup for my new i_phone 5 to backup all of my pictures and old app's
Backing up the iPhone 5 is not going to do anything to get your data onto it from the old phone.
Restore the new iPhone from the backup of the old iPhone.
Or simply set it up as new and sync the content you want from iTunes to the device.
Retrieving data ...