OK, I figured that out.
Following is a how to migrate wordpress from one domain to another.
Initially wordpress was loaded on pheromonekid.com (olddomain from now on). Thus I created ethanvalentino.com (newdomain.com from now on). Both olddomain.com and newdomain.com were hosted by dreamhost.
CREATE THE NEW HOSTNAME FOR MYSQL:
[*] login on https://panel.dreamhost.com
[*] Under Goodies->MySQL Databases click on Add New Hostname
[*] Choose a name for the new host and select your new domain (like mysql.newdomain.com)
MOVE WORDPRESS FILE FROM THE OLD DOMAIN TO THE NEW ONE
[*] ssh to dreamhost server using your username and pwd (or alternatively you can use the WebFTP on your dreamhost panel)
[*] copied all files from ~/olddomain.com/[your_blog_directory] to ~/newdomain.com/[your_blog_directory] (in case you don't have a blog directory it's fine as well...)
[*] edited the file sitemap.xml and replaced all the occurrences of 'olddomain.com' with 'newdomain.com' (remember to make a backup copy of the file first)
[*] edited the file ~/newdomain.com/[your_blog_directory]/wp_config.php (remember to make a backup copy of the file first) and replaced the field :
CHANGE THE DB REFERENCES TO THE OLD DOMAIN
[*] go back to Goodies->MySql Databases
[*] under Hostname you should see mysql.newdomain.com. If you don't, don't panic. Usually it takes a bit before propagating the changes. Click on phpMyAdmin near the hostname
[*] insert your username and password (they are enlisted in the MySql Databases page if you don't know/remember them)
[*] once logged in phpMyAdmin click on the name of your DB (it's on the left)
[*] click on SQL on the tab on the right
[*] Write the following commands in the text area:
UPDATE wp_s1uogr_options SET `option_value` = REPLACE(`option_value`, 'olddomain.com', 'newdomain.com') WHERE `option_value` LIKE CONCAT( "%", 'olddomain.com', "%" );
UPDATE wp_s1uogr_posts SET `guid` = REPLACE(`guid`, 'olddomain.com', 'newdomain.com');
UPDATE wp_s1uogr_posts SET `post_content` = REPLACE(`post_content`, 'olddomain.com', 'newdomain.com');
UPDATE wp_s1uogr_postmeta SET `meta_value` = REPLACE(`meta_value`, 'olddomain.com', 'newdomain.com'o);
[*] press 'Go'
That should be it.
NOTES: I experienced some weirdness with phpMyAdmin and Chrome. Because of a bug with session management, it is pretty impossible to log out phpMyAdmin, so I had to do all this stuff with Firefox or Safari. Also, for extra security you might want to export the DB and create a copy with a different name and user. In that case you should replace the field DB and USERNAME in wp_config.php