Switch to file_per_table using a slave

[Chris Weyn]

I was wondering if anybody had gone through the process of going from shared tablespace to file_per_table using a temporary slave. I cannot afford too much down time on my database and the shared tablespace is ~250Gb. I was thinking of hanging a slave onto the database, setting up the slave with file_per_table, building it up from a mysqldump of the master, and letting it catch up. Once caught up, I stop both databases and do a binary copy of the resulting files to the master and re-start the master after having made the adequate changes in my.cnf.

Anything drastically wrong with this scenario? If anybody has gone through this, could they please share any hurdles they had to overcome?

Thank you,

Chris