Hehe, yeah that should be fine
Shouldn't pose any problems what so ever
Just make sure what you copy across won't need the registry, like for example a game folder (this wouldn't work if you just copied this)
so just save backups of saved games, files from yuor documents and things like that that would be irreplaceable.
As long as you have installations for the programs on cd's and on the drive, all should be good
Hope it works great, good luck