Not quite.  You need to update at the device class that pointed to old
library and have it point to the new library:

update devclass devclassname library=newlib

Then TSM will look for the old device class volumes in the new library.

Kelly J. Lipp
Storage Solutions Specialists, Inc.
PO Box 51313
Colorado Springs, CO 80949
lipp AT storsol DOT com or kelly.lipp AT storserver DOT com
www.storsol.com or www.storserver.com
(719)531-5926
Fax: (240)539-7175