Yes it will work, done it myself a couple of times on new MBPs.
If you are going from PowerPC to Intel it will not work though or if you have an older version of OS X it will not work on a Mac created after it. So Tiger/Leopard would be a no go on a Mac that was introduced after Snow Leopard.
No yeah it's going from one C2D machine to another, I think it'll be ok
Report back after you do, I'm interested in seeing the results.