Procedure to update your live site from your test site

Hi all.

I have completed "version 1.0" of my website and now plan on working on the next version locally.

I have read the documentation on this and I just want to make sure I understand the basic gist of this process. The following assumes that no development, changing of themes, and so on was performed on the live site:

1. If necessary, copy any relevant (non test) content you have added to your test site since creating version 1.0. (Not sure why you would have much relevant content, but I guess it must happen from time to time.)
2. Make a local backup of your test site db.
3. Take the live site off line.
4. Back up your live site db and load it locally (plus any folders/files on your live site to support the content).
5. Run update.php locally.
6. Paste any relevant content from Step 1.
7. Back up your test site db.
8. Import test site db to live site and run some tests.
9. Place site back in on line mode.

Is this the correct procedure? Have I missed anything?

Thanks in advanced.

Dan