chrislee123,
Please see the following docs...
http://wiki.splunk.com/Deploy:Migrating_a_Splunk_Install
... and scroll down to the section titled, "Operating system moves, or architecture changes".
This should help answer your question. In basic terms, you are basically right, note that in the "caveats" section it mentions the difference in directory seperator between Windows and Linux (i.e. Windows uses "\" (e.g. C:\Windows\Logs)) and Linux uses "/" (e.g. /var/log)), so this will need to be changed in you conf files.
Regards,
MHibbin
