If both servers share a SAN, some SANs have what I call a "SAN Snapshot" that will very nearly instantaneously create a copy of an existing database on the "other" box. We had a half TB database that we did that to in a previous company and the total time it took was just several seconds. The only warning that I have is that is IS a replacement and not an update Anything new you have in the "other" machine will be wiped out.
--Jeff Moden
Change is inevitable... Change for the better is not.