Tim you can do this but it will take a little work depending on what you are trying to do. SQL server 2005 has the same capability but it has been relabeled as SQL Server Integration Services. This can be found in the SQL Server Business Intelligence Development Studio. Using this app, you will want to create a new Integration Services project. Once you create a new integration project you will want to do the "Transfer Logins" task (kind of like the old DTS task).
This should work for you unless you are trying to move logins from one server / instance to another. If this is the case you are probably going to get orphaned users. Microsoft has scripts out that will fix these users one at a time but you will have to write something if you want to fix users in bulk. I hope this helps and that I didn't miss-state anything. Post again if you have any questions, I would be glad to try to help!
Jared