HDD to Memory Card to new HDD

[howlinmad]

Looked around but not sure I exactly see the answer to this spelled out.
How would we go about this, and what are the consequences?

Take a 20gb HDD, transfer all live account information and game saves to a memory card, then transfer everything back to another 20gb HDD replacement? I don't want to have to deal with the whole transfer kit thing.

This is a newer arcade bundle, so there really isn't anything as far as downloaded content or anything. Just mainly game saves and live account.

Is there any downside to this? I think the fact of having to be connected when playing live arcade downloads is only for content already on the drive. This isn't for future downloads right?

I should know all of this, but I don't.

 

[R1V3R5]

I had to replace my 20GB with another 20GB and I used a memory card to transfer all my stuff. Well, most of my stuff. I have the older, 64MB card (since it was free) and I had to pick and choose which content I really wanted to keep. It was as easy as pie though, and exactly what you want to do.

Also, MS has resolved the whole "being connected to play downloaded games" thing a while ago. You can actually move the license(s) to the new console now.
Here is a link:
http://www.xbox.com/en-US/support/systemuse/xbox360/licensemigration/