From 3 databases to 1

I currently have 3 blogs running on 3 databases. I plan to change hosts and my new host allows me 1 MySQL database. I plan to merge my current 3 databases into 1. While there is a lot of info in the WP Support forums about tables and databases, I haven’t seen what I “plan” to do outlined, so I wanted to post it here and make sure I’m on the right road. Let me know if you see any flaws in this plan:
1. Make sure all blogs are same version of WP (1.0.2).
2. Use phpMyAdmin to change the table names of 2 of the blogs to have different prefixes.
3. Use phpMyAdmin to move the tables for all 3 blogs into one database.
4. Edit the wp-config.php files to change the prefixes to the new ones established in Step 2.
Am I correct in thinking that’s it?