Question about switching from 1 iPhone 4 to another iPhone4

Long story short... My iPhone 4 has a wonky Home Button. I am less than 2 months away from being eligible for a $199 iPhone 4s. I am a heavy user and I am very close to throwing my phone at a wall. To prevent that from happening I have an Idea. My wife also has an iPhone 4 with a good home button. She only uses her phone a couple of times a day. Much less than me. My idea is to swap phones with her for the next 2 months. This is what I think I need to do...

1. Back up each of our phones to iTunes

2. Take her good phone and do a "Restore" through iTunes but restore it from the back up of my bad phone

3. Take the bad phone and "Restore" it through iTunes from the back up of the good phone

If I figured this out correctly this should swap our phones? Am I missing something? Will there be any problems? I plan on doing this again on February 1st  when I can get a 4s and take the broken phone to get the upgrade done.

Thanks in advance for your help.