OS X :: Restore Old IMac G5 To New IMac Via Time Machine?

My old iMac G5 PowerPC finally had its day -- the logic board died on me. Instead of spending $900 on a new logic board, I decided to purchase a new intel based iMac.

I used Time Machine to back up my data on my G5. I obviously want this data on my new iMac. However -- I don't want the old applications (like iLife 06, etc etc.). I would obviously like to keep the new applications (like iLife 09).

So I guess my question is this: If I do a full restore, does that only do my files or does it include all my apps from my G5?

If it includes the apps, is there a way to do a piece meal restore to only get the files I want (music, photos, videos and documents)?