I often bundle together a number of jar files used for complete certain task to a class library in Netbeans. Until recently I found that my collection of class libraries have grown larger to the point that it would take more than a solid 15 minutes to re-create all of them (I normally do this manually). So I thought this is the time to do things smarter! I checked out Netbeans Help content and I found that in order to import existing class libraries to newer version I have to
To import settings from the previous version of the IDE if you did not do so the first time you launched the IDE:
Make sure that you still have the user directory from the previous version of the IDE on your system in its default location.
On Microsoft Windows systems, the default location is C:\Documents and Settings\username\.netbeans\version-number\.
On UNIX and Linux systems, the default location is /home/username/.netbeans/version-number/.
If the new version of the IDE is running, exit the IDE.
Locate the user directory of the new IDE installation.
On Microsoft Windows systems, the default location is C:\Documents and Settings\username\.netbeans\version-number.
On UNIX and Linux systems, the default location is /home/username/.netbeans/version-number.
Rename or delete the new installation's user directory.
Restart the new installation of the IDE.
In the License Agreement, click Accept.
In the Confirm Import Settings dialog box, click Yes.
I followed the step, but after 3 attempts (involving re-installing Netbeans), I still couldn't get my libraries to port from Netbeans 6 M10 to Beta 1. So I tried to search on internet, but still unable to find any good information.
Apparently there's a quicker way to do this. Basically repeat the instruction from step 1 to 7 above. Under "<home>/<username>/.netbeans/<previous version number>/config" folder, look for a folder "org-netbeans-api-project-libraries"

Under this folder, you'll find another folder name "Libraries" which store a bunch of XML files describing each of all class libraries you've created.

To port these libraries to other version of Netbeans, simply copy these XML files to corresponding "<home>/<username>/.netbeans/<new version number>/config/org-netbeans-project-libraries/Library" and that's done.