Hi David,
[...] Has anyone had this work for them? Anything to watch out for?
yes, we did that already. We even did a ALTER TABLESPACE () DROP (container) to move DB2 containers off a mountpoint. The only thing to watch out for: Really try to find a quiet time. Only do one container at a time to be sure. That worked really well for us, although mostly unsupported with a running TSM instance ;)
Best regards, Sven