Moving from RedHat+Satellite to CentOS+Spacewalk

Just starting to consider trying to save a fair amount of money by moving from RedHat and Satellite to CentOS and Spacewalk. In "theory" this should be possible but I am wondering if anyone has already done this, or worse, found out that it's not possible. We would want to simply change the RedHat systems to CentOS (this used to be moderately simple) and take our Satellite information/database and move it to Spacewalk.

Any big gotchas? Any indication of where things are going now that CentOS has been acquired by RedHat?

Thanks