The hardest part about the above, is acquiring an Xbox compatible DVD disc drive. The lllama sells 'em http://www.llamma.com/xbox/ShoppingC...components.htm .

Popping the old one out, and the new one is VERY easy. A bit easier than putting a DVD drive into a computer (no master/slave concerns at all).

Is there any other way to transfer memory? Be it system link, to computer and back, etc?

Am I better off getting another X-Box and switching the HDs instead?
Only by modding the unit, and then FTPing in with your PC over ethernet. If you buy a new Xbox, and try to swap the HD's, you'd find it impossible, as they HD and mobos are "locked' together with encryption, that only modding the unit will allow you to crack. If you bought another Xbox, the smart thing to do would be to pull the DVD drive from the new Xbox, and put it in the old one. That would save your saves, and it would void your new Xboxes (90 day ) warranty.

I have new Xbox DVD drives, but I don't really have enough to meet my repair business's needs, let alone selling them online. Sorry.

FYI a PC DVD drive will not work, unless the PC drive is heavily modified.