HOWTO: uTorrent - Portable App and Settings
How can I use µTorrent on a USB key or other removable drive?
Simply copy settings.dat (located in %AppData%\uTorrent ) to the same folder as uTorrent.exe, and you're done.
http://www.utorrent.com/faq.php#How_can_I_use_.C2.B5Torrent_on_a_USB_key...
I started with that info and worked off it from there. The specific files you need to copy are located in "C:\Documents and Settings\USERNAME\Application Data\uTorrent" These are the specific filenames: dht.dat, resume.dat, settings.dat. There may or maynot be .old versions of those files as well.
You can save the uTorrent.exe file from http://www.utorrent.com/download.php on your USB, then copy those files to the same directory.