Thanks gents for the comments. Let me elaborate a bit further.
I am moving to new hardware along with upgrading to V8. Because the current configuration is rather flaky, I dont want to risk damaging it. Therefore I intend to move to new hardware first with the same server name and EV version, this then allows me to fall back to the original server should something go wrong. Once I have tested the new server, I then intend to upgrade following the recommended path. In order to do that I need to move the vault store data. Because of the amount of data >2TB, I would like to copy the closed partitions to a shared location prior to the actual switch of servers, then on the day of the switch, be left with only the open partition to copy to the shared location.
Is what I propose viable, I have tested my plan through a virtual environment and all seems well. The nagging question is; will users still be able to access their archives when I am copying the closed partitions