Switching domain of an existing site

Is there a recommended procedure for switching domains on an existing site?

I'd like to make sure all assets and internal links are pointing to the correct domain.

I was thinking the 'Search and Replace' plugin might do the trick, but didn't know if it might come back to bite me down the road. http://wordpress.org/extend/plugins/search-and-replace/

Any tips or best practices would be appreciated.