Windows 7 Pro Upgrade from Vista without second computer

I read the thread about shrinking a primary partition on a Vista 64 machine to create a Windows 7 partition and dual boot. I have 360 GB of user data and do not have another machine to use for storage of the Windows file transfer file. I have a 1T drive on the Vista machine. Can I use the same approach of shrinking the C drive and creating a new partition to install Windows 7 and then copy the user data files from the Vista partition to the Windows 7 Partition (assuming I create a large enough partition), then delete the original Vista partition and expand the Windows 7 afterward??
 
Sounds OK to me.

Personally, I'd like nice clean install though. Get yourself a 500-1000GB portable HDD - they are pretty cheap now.
 
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