PostgreSQL version: 9.3.3
Operating system: Redhat 6.4 Linux
Description:

We are in the process of setting up a standby server. Instead of restoring from a backup taken from primary server,
we want to shutdown the primary server, and then copy the primary database VM image to the standby server.

We want to do this because our database is 7TB and takes 4-5 to backup and 8-9 days to restore to the standby server.

Mock Primary :192.168.1.50
Mock standby:192.168.1.100

1.) Configure pg_hda.conf on primary

# Allow the user "postgres" from host 192.168.1.100 to connect to the primary
# as a replication standby if the user's password is correctly supplied.
#
# TYPE  DATABASE        USER            ADDRESS                 METHOD
host    replication     postgres        192.168.1.100/32        md5


2.) Configure recovery.conf on standby

standby_mode = 'on'
primary_conninfo = 'host=192.168.1.50 port=5432 user=postgres password=foopass'
restore_command = 'cp /path/to/archive/%f %p'
archive_cleanup_command = 'pg_archivecleanup /path/to/archive %r'

3.) re-start both servers

Question #1 Is this feasible?
Question #2 Have I missed critical steps?

Thanks