Migrating Virtualmin - with replication?

Hello there!
Here’s the situation: i have a physical server with Virtualmin Pro running on it, hosting several domains.
That physical machine has to go, and I am preparing a new, Cloudmin-based setup. There will be XEN VM running Virtualmin Pro.
The goal is to migrate all Virtualmin domains from the physical machine to the new VM.

I have thought of one possible migration scenario:

  1. Shutdown all services except Bind and Virtualmin, and firewall their ports, stop the cron daemon
  2. Update the Zones so they point to the new IP
  3. Make Virtualmin backups and make them upload directly to the new VM (which has all ports except Virtualmin closed)
  4. Restore all backups on the VM
  5. Open the ports on the VM
    Now this is going to take several hours, given that a full backup takes about 5-6 hours on my system, then probably a couple of hours to restore etc…

Now, after playing around with Cloudmin, I discovered a neat feature called “Virtualmin Replication” (or something like that). Is that maybe a better way of migrating the stuff over? I thought about these steps, though I am not sure if it is doable:

  1. Setup replication and do a first replication, so all data is copied over
  2. When replication is done, shut down and firewall all services on the old machine and update the replication (which hopefully will take not much time)
  3. Update the IP in the zone files

What do you recommend?