I tried these steps after a long time, and would like to highlight a issue I came across.

In following the above steps, what is the precaution if the database server is on the same machine as the moss server being renamed?

If this is the case, updating the farm credentials will not be sufficient since the name of the db server also has changed.

One option I tried is to update the config db location stsadm -o setConfigDb, but that didnt work.