Progress has been slow to say the least. The backups were completed by 10am.
We then manually copied the save files for 2 accounts from the slim to a USB flash drive.
This is very painfull given that you have to do each save file 1 by 1. This and the fact we realised Assassins Creed II is protected content. I sacrificed this save file to allow my son to transfer his 5 Protected Content files to the slim.
At 11:30am we started the PS3 Old to PS3 Slim transfer. It's now 4pm and after 4hrs 30min we still have around 1hr to go according to the timer.
It appears this will not be a single day process.
Please Note: when doing this sort of thing delete all content you don't want to save. It will speed up the whole process that much more quicker. My son wants everything, game demo's, music, trailers etc etc. 200GB worth of (shit). Don't you get caught in the trap.