Short answer, yes.
To avoid conflict of same folder names being used, just create a folder on your new drive and call it something unique and meaningful, like "MyOldDrive"
Than copy whatever you like from the physical OLD DRIVE into that new "MyOldDrive" folder.
The long answer involves your intent of doing all this. You don't expect the old programs to automatically start working, do you? They won't, but with work you can make it so.
You may be copying a whole lot of files needlessly, like some or all of the system files from the hard drive will be almost useless on the new drive.
There are lots of other things too, but you wanted it KISS.
How about this one ? The hard drive in this PC is 40 Gigs and is formated in Windows XP Pro. I want to put back the old drive, 20 Gigs, formated in Windows 98, into this PC too. Can I move, copy, or drag items from it to the newer drive ? If yes please keep your answer simple (KISS) for me. I'm not as good at this as I wish I were.