How to erase all data prior to recycling

I dropped my phone and the GPS is completely nonfunctional. I can still get info to SD card, text, phone calls, surf web.

So I'm going to get a new phone, probably the Optimus V.

I'd love to transfer over all my text messages and other info to the new phone, if I could. (I know how to get videos, pictures and music over through the card, and my contact lists will go with my Google account.)

Does anyone know how to transfer text messages over? (I suspect I can't.)

After I get the new phone, I want to "erase" the Intercept clean of all personal data. Obviously I keep the SD card. Will a Factory Reset COMPLETELY get rid of everything else?

Thanks.