I am currently in the process of consolidating a dedicated server serving MS SQL Server 2005 with a dedicated web/application server that hosts ~ 700 very low-traffic websites. The target system houses a quad-core 5148 Xeon CPU and 12 GB of RAM. The memory and CPU load on both servers is relatively low (hence the consolidation).
What I have no creative idea of doing, after hours of Googling, however, is migrating the SQL Server data and settings verbatim to the new server with minimal downtime. Would shutting down the services on both servers and actually copying the whole MSSQL.1 directory to the new server work or is it a crime against humanity (considering I'll have the exact same MSSQL version and SP level installed)? Bare in mind that after the data is migrated, I'll add the old server's IP to the new server (in order to save the customers of the trouble of updating their web.config files to 127.0.0.1).
Any help would be appreciated!