When I upgraded from a 40G to a 155 back in September I used about 30lbs of LS from the 40G and another 70-80 pounds of Live Sand. Worked great, no issues at all.
When I upgraded from a 14G to the 40G, I didn't use any old sand and did all new and had more diatom issues, etc.
If you choose to use the old sand, just make sure you stir it up as little as possible. I took out as much water from the tank as possible and then shoveled the sand from the tank into a tupperware container. Packed the sand into the container (like you would if you were making a sand castle). Moved to the new tank, slowing lowered the container to the bottom and slowly turned it over, then slowly lifted it. Since the sand was so tightly packed, it didn't spread everywhere, it stayed as a loose brick and I was able to gently push it around with my hands.