I would use a backup program that creates an exact image of your hard drive. This would save all settings and all work you have put into getting the emulators to function properly. You can create an exact image on a larger hard drive and the extra space will be added to the drive as useable disk space.
Ouch! Sore subject for me! I actually did this many times (cloning) and it works great. However, the last time I did it, I used the same exact drive brand/model and size for the back-up. You can guess what I accidentally did when trying to clone it. My "Ultra Arcade" is dead... for now, until I find time to put into re-doing everything.
My advice is to get a different sized hard drive for your backup. NEVER the same size.
However, that said: When I did back it up successfully it was very handy! I once had my arcade hard drive die on me on the day of my Superbowl party and all I did was grab the spare, swap it out and I was back up within minutes. I then cloned it again the next day and put the new clone on a shelf somewhere.
P.S. - No need to buy Acronis. I use the FREE bootable CD-Roms that come with hard drives to clone them. (Max Blast, Seagate Tools, Western Digital , etc) They work great. If your HDD didn't come with one, simply download the ISO free from your hard drive manufacturer.
DeLuSioNaL29