Brilliant! It's just what I used to do.
For years, each time a new OS came out, I'd get a new drive for the OS drive and just shift all the drives. I usually did clean installs rather than cloning, but the idea is the same.
I've done this long enough, that my C: Drive has become volatile. By this I mean I can wipe the OS and rebuild without touching my Data drive. I do back up the data drive first (it had been 6 months since I'd backed it up! Yikes!).
I'm surprised 1/2 TB takes care of you. I have 3 TB for data and I'm regularly having to purge projects because I don't have space.
I use this tool...
http://spacemonger.en.softonic.com/to find space that isn't being used for what I want. This tool was free for years before they started selling licensed copies.