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Seriously; just do it every once and a while if you're fond of your game saves and don't feel like re-downloading everything you bought/demoed off the PSN Store and reinstalling all your games again.

A little FYI for those who have swapped out HDDs; the PS3 will require a format of your old drive if you were to say, install it in a new PS3. In other words, it won't allow you to use all the data that's on it. Back up data however, will work nicely.

(PS3 died earlier this week, and the 210GB of data on the drive had to be reformatted for the new system to utilize the drive. Ouch.)