It's best to wait until it is dormant, Paul, and dig it up with as big a rootball as you can.

It would take a braver man than me to even think of that.
Rhododendrons have shallow root systems so the roots supporting a 7ft by 10 ft shrub will spread out pretty widely. You would need to lift it with as little root damage as possible and, presumably, several neighbours to carry it.
I would also query if it would do well against a north facing wall in NY state. Would it get any direct sunlight in winter and might it not freeze?
If you have to move it then good luck to you.

Thanks for the advice! Sheila - good point. I could wait until next month, but I want the roots to establish before the dreadful winter arrives with all the snows.

Thanks Bulbaholic. I'm a certified fire fighter for New York and I'm accustomed to carrying a lot of 'dead' weight - literally. Wouldn't this be a 'walk in the park' comparatively? :)

the ongoing problem with it going next to the wall will be lack of water due to it being in the wall's rain shadow. If you reduce the foliage then you will spoil the appearance of the shrub and obviously forego flowers next season.

Why do you want to move it? is it getting cramped by the wall behind it?

You would need to take as much soil as possible with it as previously mentioned. But the soil and root ball onto sacking/plastic sheeting etc to drag/lift it. as for lifting a dead weight it is much more ungainly than a human body. [didn't know you'd changed jobs, hope you prefer it]:

Thanks for your response sbg. I've always been with the fire dept. Its my side gig. Im a single guy-i have the time lol. Your response makes sense. Yeh the bush is getting big for its spot plus its too hidden. I cant view it from the window. I have to go outside and around the back of the house see it.

Exercise is good for you Paul, now in your sideline you already know that, lol, I don't think I'd attempt it, you've already said its special and you don't want to lose it, try propogating a new one first by taking some cuttings, get them going first as a backup, or even better because it has been said its difficult with Rhodies, try using the layering method, that way if you really do have to move it you've at least got a replacement, whats a year between friends.....

hmm now there's an idea I haven't thought of. Thanks Linclass. It's certainly worth a go...and the cutting would be a clone of this one right?

yes a cutting would be genetically identical to this one. a cutting or layering would be clones. take a couple as insurance.

Great idea SBG. I can take several cuttings and make a hedge and just keep this here since it's apparently happy.

Thank You all for the great advice & comments.

Here is a pic of it in bloom...

http://www.growsonyou.com/photo/slideshow/329454-my-favorite-rhododendron/member/bathgate

Well I wasn't going to comment but I think you've made a wise decision

I'm glad you did! thanks