If you transplant, make sure that your soil stays moist and use 3-4" of any type of acidic mulch slightly past the end of the new hole. Try to move as much of the root ball as possible/practical and be careful not to disturb (too much) the fibrous roots near the surface. The goal should be to transplant as many roots as you can (within reason of course) because the more roots that you "move", the less stressed the plant will be. Have the new hole ready first and choose a cloudy, non-windy day to transplant if you can. Do not dig the shrub out one day and transplant the next. While transplanting, I like to dump the root ball in a solution of water with liquid seaweed. You can also add rooting hormone or Superthrive, etc. etc. etc. Going forward, treat it as you would a newly planted newly purchased hydrangea in a 3/5 gallon pot. That is, expect some wilting, keep an eye on soil moisture, etc. You can feed it in June 2011, not now. Good luck, jgrinter.