I am not a drupal expert but would appreciate any help.
I would love to move all my site files, modules, views, contents, nodes, configurations, blocks, taxonomy, rules, images, file systems, and reports from the current site into the new theme without losing out on anything. what are the steps?
Thanks
In dir "/sites/all/themes" you have your current theme. Or it's empty if you are using some default Drupal theme. So if I got you right you just want to replace the current theme and keep the rest of the site. In that case copy your new theme in the same dir ("/sites/all/themes"), clear the cache (admin menu: Configuration->Development->Performance) and go to Appearance page (again from admin menu). Now if your new theme is ok you should see it here. Enable it, set as default, clear the cache again if you have to and you should be using your new theme now.
So, basically, you just have to add you new theme's file, clear the cache and activate new theme.