Here on Earth, a good case-study would be how we treat Antartica (meaning, who gets what part of the new planet or moon) and if we can't come to any agreement on how Antartica is Governed/divided, then we will still carry the same dumb sovereignty issues over to the new world along with the constant bickering and fighting, possible war, etc.
I read a quote from Stephen Hawking suggesting that this needs to happen probably in the next 200 years to ensure that we can survive as a race to avoid getting wiped out. He also suggested that we'd need to find another suitable star seeing how it is unlikely we'd be able to move to the really only one suitable planet, namely, Mars.
A personal concern with me, outside of terraforming the planet/moon, is who would get to go first? Would this be like 2012 where only rich people and scientists are allowed shall disaster be imminent... or "people who can contribute"? What about "regular" folks who don't have money or aren't educated? There will always be poor folks among us.
While I agree that we'd probably have the technological means, I think social and political issues, or how we'd be able to co-exist in our new home, would determine whether or not this would work long-term. We have different countries with countless political and social set-ups that aren't likely to change anytime soon.
This is very interesting discourse, but I still think Antartica would be a good starting point. I don't quite know how the world is doing with this non-government having Continent, but if we can't agree on much regarding it, then it will be extremely tough doing this with another moon/planet, IMO.