[Centos] keeping RHEL3 updated with centos RPMs

[frcaen at gmail.com (Francois Caen)]

Hello,

I have a couple RHEL WS 3.4 boxes that I purchased last year. At the
time, the retail-boxed Linux Pro Workstation was in the $60-80 range
with supposedly $99 yearly maintenance.

It doesn't look like I can renew the maintenance for $99 any more. 
And why bother, I'd rather use CentOS RPMs :-)

My question is: is getting CentOS 3.4 updates on RHEL 3.4 as simple a
going from WBEL to CentOS as described here?
http://www.centos.org/modules/smartfaq/faq.php?faqid=19

- install centos-release
- install centos yum
- yum update

Has anyone tried this?

Thanks,
Francois