Just checking is this procedure still the same for the latest version of solarwinds
Alot has changed since 2005.
Orion Platform Migration Guide
Migrate SolarWinds Orion products to a new server with a new IP and hostname
Depends on the versions you are running on, just go through the below links - this explains everything that you need.
It depends on what versions you are running on, if it isn't a very old module version then you do not have to do anything as complete data is stored on the database. I am assuming you are just migrating the modules and not the DB to a higher spec.
Migrate SolarWinds Orion products to a new server using the same IP and hostname
Success Center
Hope it helps
You may want to consider How to Migrate Orion to a New Server With Zero Downtime In addition to migrating with zero downtime, there is no requirement to deactivate/reactivate your licenses.