absolutely. This is one possible scenario, but for me, the most appropriate.
Worth saying as well, that we use dns entries in our connection strings to the active report server and active database server, so it's a simple log off & log back on for users to pick up the new dns entry that would point to a different IP address.
Also another point, which I didn't cover in the article, as it's a different topic, is that if you intend on doing something similiar with dns entries, then it's quite likely that you will need to setup SPN's (Service Principle Names), in order to get Kerberos Authentication working.
Glad you liked it though and thanks for pointing me in the direction of the Knowledge Base article.
MCITP: Business Intelligence Developer (2005)