try, should work ok, /etc/fstab must be edited and such, you will get erorr messages...
if you find a problem ask here, we will try to answer.
i have copied many installs from disk to another.
mostly get some minor trouble easily fixed, usualy, by editing /etc/fstab /etc/modules... and reinstaling grub or lilo (or ading install to the bootloader already there)most occasions this has worked well (one install had some trouble with the kernelconfig).