GilaMonster (2/9/2014)

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cphite (2/9/2014)

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The only catch is that if for whatever reason the new location isn't accessible, SQL won't start and you'd need to restore master.

SQL won't start in that case, but you don't need to do anything as extreme as restoring master.

http://www.simple-talk.com/sql/backup-and-recovery/the-sql-server-instance-that-will-not-start/