Retain Cydia Apps/Settings during iPhone 2.2 Upgrade

Looking to make the jump to iPhone 2.2 but don't want to lose your Cydia apps and settings? Using this method I was able to upgrade from a jailbroken 2.1 firmware to jailbroken 2.2 firmware without losing any of my Cydia apps or their settings.

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Original source : http://digg.com/apple/Retain_Cydia_Apps_Settings_d...