The command will move through a series of prompts. First, it will ask where you want to save the keys. Unless you are an expert, accept the default. This will create an “id_rsa” and an “id_rsa.pub” ...
I find myself hopping around from computer to computer occasionally - usually one that I haven't used before. I've got MobileMe syncing almost everything that I need (mail settings, bookmarks, and ...