Copying metadata and code from one Production org to another
You can use the Force.com IDE to do this. Follow the download and installation instructions here: Force.com IDE Installation
Once the Force.com IDE is installed, create a new project and provide the source org's login information and choose all meta-data objects you want to deploy to another org. Once they've all be downloaded into your project, right-click on the project and select "Force.com->Deploy to Server" and the tool will walk you through the process with a wizard.
You can also use the Ant based Force.com Migration Tool:
http://www.salesforce.com/us/developer/docs/apexcode/Content/apex_deploying_ant.htm
I should point out that the following items cannot be deployed through Eclipse (at least from what I can find):
Approval Workflows(Available as of Summer '13)- Chatter Settings
- UI Settings
- Lead Settings
- Email Settings
- Organization Settings
- Outlook Configurations
- Offline Configurations
- Mobile Configurations
- Lead Assignment Rules
- Case Assignment Rules
- Custom Object Criteria Based Sharing Rules
- Content
- Knowledge
- Ideas
- Queues (not positive on this since I know Groups can be deployed now)
- Time-Dependent Actions (the rules can be deployed, but the time-dependent part needs to be re-created)
- Email Services
- Scheduled ApexJobs/Reports/Dashboards
- OrgWide Email Addresses
- Renamed Fields/Objects
- Individual Users Email Signatures, Chatter Settings, Outlook Configuration, Offline Settings, Personal Groups, Update Reminder Settings
- All Reports, Dashboards or Email Templates that are in a users "My Personal Reports" or "My Personal Templates" folder
- All Private List Views
- Anything considered "Data" (with the exception of Documents, which for some reason can be deployed through Eclipse).