No problem, shrinks are fine if you've just deleted/moved a load of data like you have here.

It's a good idea to run an index defrag/rebuild afterwards though.

Don't know how you do it, but DBCC SHRINKFILE is preferred over DBCC SHRINKDATABASE.

Leave yourself some empty space in the file so the defrag/rebuild doesn't cause the file to grow again.

Hope that helps!

Cheers

Gaz