Just today I did what you are asking. I have a 16GB white iPad 2 on 4.3.3 jailbroken that my girlfriend has been using and I wanted to switch her over to a newer 64GB black iPad 2 running 4.3.5. She doesn't need the jailbroken stuff, but needs the bigger storage capacity.
Anyhow, I synched her iPad and backed up the data. I then did a restore from backup on the new iPad using her backup from the jailbroken iPad. At first I was concerned when the sync was completed because it only showed the default apps being installed despite other apps being selected for the sync. Long story short, her contacts, emails, Safari bookmarks, etc. were all there. I synched the iPad again to install the apps thinking they'd all be fresh without any of the old data. Turns out that once the apps were installed the data was there, too. Game saves, etc. were all there. I guess the restore put the data on the iPad, but couldn't be accessed until the apps were physically on the iPad.
The only thing I had to do at that point is reorganize her icons and she was off and running as if nothing had changed. She has more storage space now and I have an extra iPad to tinker with.