@Kindling:
I did that between my wifes K2 and my KDX. I downloaded all her ebooks then connected her K2 to my copy of calibre, uploaded her books then deregistered her from her old account. Now all her books are on calibre. When the K2 needs a book it is always available (and backed up I would stress) on calibre. I do the same with my DX but always stay registered. It's not quite for the same reason but it still shows you can do this in the way that will work.
Calibre becomes the master library for her and I have have no need to access her old account again.
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