Yes, pretty much what I do.
Except, as ATI's usually come as an *.exe (drivers + ControlPanel), I make sure I've made a new folder (named as the new driver-to-be-installed) prior to starting to remove the old driver.
After uninstalling old drivers and rebooting, I double-click the new *.exe, and point it to unpack into the new folder I've made before.
After that, it usually auto-executes, and installs both drivers and CP.
Then reboot, and reset your desired desktop-resolution&refresh-rate.
Reboot again, and finally set your D3D/OpenGL-settings.