Question : WSUS 3.0 sp2 server 2003 x86 to 2008 R2 x64

I currently have a 2003 server x86 that is running the newest version of WSUS(3.0 sp2).  I want to do a side by side installation onto a server 2008 R2 x64 box.  Is it really necessary to transfer the database and everything?  Should I just do a clean install on the new box?  I have a one WSUS server environment with about 500 clients.  I know it would take awhile to re-download all the windows updates to the server and would take awhile to scan all the clients again.  We have a fast internet connection and 1gb to each desktop.  
Perhaps it would be easier to backup my existing server and restore the new server?  Do I have to worry about x86 to x64?
Thanks for your help.

Answer : WSUS 3.0 sp2 server 2003 x86 to 2008 R2 x64

You can go side-by-side and use Group Policy to point the clients to the new server.

However, you lose the update approvals (if there are any updates you've specifically declined or not approved) and computer groups at a minimum.

Also the 'last seen' time for machines will no longer be valid so you could "lose" machines that haven't reported in a while.

I have not tried to export / import WSUS Setings from 2003 to 2008 yet; therefore if there are few declined updates, the clean install should be a clean, low-risk approach.