Hi Guys,
I did exactly this some threefour months or so ago, as my Premium was deemed faulty and I "upgraded" to the 32-Deluxe.
It did work (after a fashion), I did remove all chipset drivers first, as these are different for the two boards, but I still had a Black-screen crash on first loading of Windows!
I ran Windows Repair from install CD and it repaired and appeared to run fine (I did re-load RAID Drivers in repair, but don't actaully know if I needed to), so no lost data or programmes!
But then I had wierd non-working SLI issues. SLI appeared enabled everything said both cards were there and working fine, but 3DMark06 scores were that of a single card. I tried new drivers, old drivers, switching cards around, switching pereference all to no avail!
In the end did new slipstream XP install and bingo SLI fine and everthing OK, but had to reload programmes!
Being honest don't know if it was my errors that caused problem, as I have not switched MB's before without new Windows install, but thought I would share my experiences.
Ridesy