The hardware conversion should be automatic, as we just ugraded 4 of our hubs to switches. The hubs and switches are basically just routing devices. They just keep conflicts from occuring, and send the proper packets to the proper locations. Short of possibly connecting to the "Uplink" port, or mistakenly using a crossover cable, there should be nothing more than unplugging the old, and plugging in the new.
The problem sounds like it is in whatever is controlling your DHCP. Some hubs have DHCP controllers, and if you replaced your hub, the PC's may still be looking to that hub for networking directions. If all of your networking was controlled through your internet sharing, then one of your PC's was acting as your "main" controling PC, and issuing the info (through the wizard) to your other PC's.
I can't remember off the top of my head, but there is a way to undo (or turn off) the internet connection sharing controls. If I recall, it may be in the TCP/IP settings of your network settings. You may have to reestablish the network internet sharing wizard, and recreate everything from scratch.
However, before I attempted that, I would go to Start->Run and type in "WINIPCFG". THis will give you a GUI for controlling your network connection (assuming you select your NIC adapter, and not your modem, or PPP settings). Anyway, one of the settings in ther is "Release All". This will release your DHCP lease, and free up your TCP/IP settings. Clicking on "Renew" may restore those connections and give you a new lease. It may not do anything. As Internet Shaing is kind of a bastardized version of DHCP, it may not have all of the info to pick up a new lease.
One final thought, if you have a router (DSL or Cable) sometimes these also act as DHCP servers. Sometimes, just turning these devices off, then back on restores all the DHCP leases. I would try that option first, then the Winipcfg option second, then the radical restoration of the Internet Sharing Wizard third.
Check some of the networking forums before you go to far, as I don't that much about the "Internet Sharing" options/settings built into Windows.
Good luck