After I create my initial data base will LR track any changes I make to my bucket system (or groups of folders)? Or am I better off using LR2 for just new images and build my database from scratch?
Aside from the fact that I can't transfer any virtual catalogs to LR2, is their any reason to still use Expressions Media?
I too migrated from iView to LR, and follow many of the recommendations in Peter's book. LR can track changes you make to your folder system. You can actually make the changes to your folder structure in LR, then it will automatically update. Or, you can make changes somewhere else (bridge, finder/explorer, etc.) then go into LR and manually remap the "missing" folders to the correct one. You could actually import them into LR as is and change as you go using either method. If your making massive changes all at once it might be more efficient to do that first, but that assumes you know exactly where your going with your structure.
iView is probably a better pure DAM system, but for me the advantages of doing (almost) everything in LR far outweighs those differences. Also, I'll bet you find some of the develop tools in LR unlock some hidden magic in a few of your old images. It certainly did for me, although my PS skills pale in comparison to others here. I migrated all my images and don't regret it at all.
Dave Chew