Am I sure to boot faster with an SSD? You will receive faster boot times with a SSD. Also, you'll see applications open much quicker on the SSD
Will the SSD have to be the C: drive? If you want it as the boot drive with the OS, you'll need to have it installed a the C: drive.
Do I need to reinstall the operating system? or can I use partition magic to simply copy it from the hard drive to the SSD? I would recommend doing a reinstall of the OS on the SSD with the other hard drives disconnected. When you clone a hard drive to a SSD, you can run into a partition alignment issue, which will effect the SSD's performance. It is my opinion, you are better of with the fresh install to avoid any possible issues, if that option is available to you.