A lot is riding on this blog (since it's successful because WordPress rocks!), so I just want to confirm the procedure I found on the site for moving WordPress as we migrate.
We need to move WordPress to a staging directory within the same hosting environment. When it goes live, the URL will be the same and the datasource will be the same. This article says it's as simple as backing up the database and copying the main blog folder to the new location. Is it really that easy?
Here's the article I referring to:
Also, please confirm that for testing in the new location, we need only change "siteurl" and "home" in the database table "wp_options" to the new URL.