[CentOS] Tar CentOS installation and transfer it to new server

Current Installation: CentOS 7.1503 with SerNet Samba 4 ver. 4.1.17
configured as Active Directory Domain Controller.
Current Installation: HP Workstation with dual Xeon quadcore cpu's and 4 x
SATA hard drives NOT configured in RAID array.

New Installation: CentOS 7.1503 minimal install
New Installation: SuperMicro with single Xeon quadcore cpu and 4 x SATA
hard drives configured in two pairs of RAID 1.

The Current Install is about 3.5 GB's and has my Samba 4 setup all solid
and working well. I want to know if it's possible to simply:

- tar up the whole root partition
- put it on a USB drive
- boot the New server with a livecd
- chroot into / partition
- unpack the tar'ed root (/) from the USB drive into the New server root
(/).

Both installs used the automatic partitioning from anaconda, so /boot is on
a separate partition.  Each server has an initrd and kernel that works from
/boot partition.  Both CentOS installs are setup using the xfs filesystem
on the root (/) partition.

I saw someone do this successfully once but they left out certain
directories like /srv , /tmp , and /var.
But I'm not 100% certain which directories need to be left out of the
tarball.

Has anyone done this before?
Do you know if it's doable?

Thanks for reading.