How do you copy the data?

With BCP OUT you can dump all tables into files (use -N option to convert all textual fields to unicode while keeping other fields native), and then bulk-load them with BCP IN.

Speed i get on my laptop is about 200 000 rows per second for both directions.

BCP also has -E option to preserve identity value: kind of automatic set identity insert on ... off for you.

HTH,

Vedran