There is a complete list of settings, restrictions, applications, and file types in the What does USMT migrate? section of the USMT User's Guide. I will highlight the most important capabilities and limitations.
USMT will migrate the following things:
Profile data for all local users as well as the all users profile including My Documents, My Pictures, Shared Documents, and Shared Favorites
EFS files and certificates (need to add
All file types defined in
MigUser.xml(can be edited)
Application settings for certain apps defined in
*) (can be edited)
Access control lists (ACL) with files and folders
Operating system data such as mouse and keyboard, taskbar, and also group membership and more
Local user to local user or local user to domain user
Domain user to a (new) domain user
USMT will NOT migrate the following things:
Applications themselves, though it will migrate application settings. (You need to install...