The typical procedure is to simply check them out from version control.
What I've also done in the past is simply copying (from the command line / windows explorer) the whole workspace directory to a new folder. Works fine, even with projects from CVS.
The soul is dyed the color of its thoughts. Think only on those things that are in line with your principles and can bear the light of day. The content of your character is your choice. Day by day, what you do is who you become. Your integrity is your destiny - it is the light that guides your way. - Heraclitus
If you move a project directory from one Eclipse workspace to another, but the project doesn't list as being shared on the Team menu, just select "Team/share project". Eclipse is wonderfully intelligent about figuring out how to fixup version-controlled projects. Even to the point of repairing projects that have had their source code repositories moved to a completely different server.
In fact, Eclipse is about the only way I can work with CVS and not get angry with CVS!
An IDE is no substitute for an Intelligent Developer.