Move to Block Pricing from Discount Schedules

Hello, 

My org currently uses discount schedules with products and price book values completed. They now want to go away from Discount Schedules all together and move to Block Pricing. We use Renewal Method of Uplift and for Amendments we use an Amendment and Renewal Behavior of Latest End Date. 

I have not worked at an org where they moved completely off of one to the other. I am trying to understand any gotchya or things to be aware of. Also, trying understand the best practice for this move and steps to complete. For example, steps to complete: 

1. Add all block price tiers to affected products
2. Change the Pricing Method to Block from List for those products.
3. Since we have many discount schedules for each product (based on price book) remove the reference to the product and price book from the current discount schedules.

What happens when we renew or amend with products that used a discount schedule before? What can I do to avoid any pricing issues/errors?  

Thank you. You are always so helpful.