Hi
I have not tried it with 5.1 yet so can't say for sure but the steps mentioned by you are definitely good for any other version so trying it won't harm given it's a test environment. Backup and restore of SQL is a possible option but is way too complicated for the task you mention. It would have been a good option if you had lots of hosts, configuration and logs in the database but for a test environment, it seems like an overkill.
Hope this helps!
Ather
Message was edited by: Ather Beg