If i wanted to migrate all my rules from RM Legacy to RM is it as simple as export/import? Or will that break things?
No, it isn’t possible to export a RM 4 rule and re-import as a RM 5 rule.
Why do you want to migrate all your rules?
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As @marktheknife said, no reason to migrate. Any new rules going in that you want to take advantage of the new features will automatically be in RM 5. Your old rules will continue to function as usual
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Excellent, for some reason i thought we needed to migrate. Thank you!
The pattern established by Hubitat is that we lose the CREATE element of older RM versions. The RUN/EDIT portion remains for years...
That's a screen cap showing one of my hubs RUNNING 5 different vintages of Rules. There's no need to migrate, but like so many here, I used to have a lot more of the older vintages... but chose to migrate because I wanted to experience the new. 
Historical Note: I assume "Rule Machine v1.0" was the original SmartThings version. Hubitat was born with Rule Machine v2.0 that identified itself as simply "Rule" 
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Great to know!
that would be discounting the OCD factor
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