I am having similar thoughts on reconfiguring my LOCATION scheme. I tried UT-K-E in my test files. It all transfered fine but I had issues with some serialized units. When you went to release them on an SO, it would error saying something about a location record and would not release it. The serial showed up in that location though? I also see an issue with the locations no longer needed. We need some sort of utility to do some house cleaning. If you manually MDB remove them, they will be recreated  when you run recon inventory. I really do not want a bunch of locations that are not used in the list. Maybe Mr. Wizard (NZ) has some thoughts on this
 
John