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Migrate Hard Drive from Latitude e6430 to Precision M4800 Mobile Workstation

I'm getting my fairly new laptop upgraded from a Latitude e6430 to a Precision M4800 and I'd like to know if I can/should simply replace the 500GB 2.5inch Serial ATA (7,200 Rpm) Hard Drive (400-AEKW) with the 500GB 2.5inch Serial ATA (5,400 Rpm) Hard Drive (Hybrid SeaGate ST500LM000-1EJ162) I already have. 

Two questions are...

1. Will I be able to pretty much plug and play the drive and negate the need to have to reinstall all of my applications and migrate data (save for some obvious driver changes)?

2. is the higher speed on the new standard drive going to be better than the hybrid drive I currently have

Thanks in advance for any assistance anyone can provide. 

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