Changing blog location

I’m in the process of changing a year-old blog from Radio Userland to WordPress. At the moment, the existing (Radio) blog is running from a directory named “Student”, while I’m using a directory named “blog” to create the new WordPress version. When I’m ready to go live with the WP-powered blog, I want to rename the WP folder from “blog” to “student” so I don’t lose existing RSS subscribers, Google page ranking, etc. From poking through the support forum, I’ve come across several dicussions on this, none of them entirely clear. Is the changeover really as simple as changing the WordPress address and Blog address in the admin Options panel, or will I have more work to do? Thanks.