I went over to the Microsoft Update Page to update my Internet Explorer. Everything worked out well. The site automatically checks to see if you need an update, then lists out your options.
I chose to go to IE 5.5. In addition to the new IE I also got a new Outlook Express 5. The update process was kind enough to ask me if I wanted to load all my email addresses into the new version. Well, I did it and put my trust in the installation process. I'll have to hand it to Microsoft, they did a nice job on the update page.