I would recommend doing it properly. Back-up all neccessary files, then install on your new hard drive. This also means you have a nice clean start on your hard drive.
Don't erase your old hard drive until you are sure you have everything set-up, because if you forget something, you could always plug the old one back-in to copy the file off.
I have had great troubles with so-called "back-up" programs in the past.
