Re-purposing custom plan field

Hi
I am hoping for a sanity check here - we have a custom plan field that we no longer need and a new one that needs to be added. My plan for the 10 plans that have the old field in use is to change the value in the drop down to none so no one has the custom field, remove the drop down values from T_KWCODED_VALUES, and then to rename the field in T_KEYWORD and change the data type (from string to currency). I tried this out in our test system and it seems fine but just want to make sure there is nothing I am missing.
Thanks
Jess Levy
San Francisco Opera
415-551-6319