I used it in February 2013 (on current system with all updates) to transfer data from my 20GB drive to a used 120GB drive. I booted the console up with a fresh drive first to make sure it was working and loading as expected. I then connected my old drive using the transfer key and then to the front USB port on the XBOX 360. A system dialog box appeared that allowed me to transfer to or from any drive. It showed the possibilities, so I knew what the goal and what the goal was, and then transferred everything (I don't know how long I left it overnight and the system automatically turned off). At the next boot everything was fine. You'll need to be signed in to your profile to authorize it for use on that drive and console, but it wasn't a problem and didn't require any extra downloading. Even my game updates and DLC downloads were already waiting and ready without any further action.
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