I recently did an almost identical upgrade, from a 65g to a 150g. I reused 80% of my LR (other 20% wouldn't fit with my new aquascape, and about an equal amount of dry rock. I used about 40g of old water, and the rest new. No nitrogen cycle in my new tank at all, but am going through "the uglies" with algae. I did reuse my existing sand, but thoroughly cleaned it as if it were new. Could be some die off from whatever may not have been rinsed. New sand is possibly better, but I wanted to save money, so just reused. I'm a believer that if it's well cleaned, it's just as good ,or very close to as good as new sand that's also rinsed prior to adding to a new tank. Seems most people sugest new sand though.