by Bret Miller.
Yes, you need to change config.php so it correctly points to the server locations, has the correct URL, and then you need to sign in as an admin and use the search and replace tool (/admin/tool/replace/index.php) to search and replace at least the site URL from http://localhost to whatever the new site URL is. When I make a test copy of a site, I replace the URL, Moodle files location, moodledata location and database name using the tool because all of those appear in my data in places. Depending on the features you use, you may or may not need to search and replace all four things, but if I were you I'd do it just to be safer.